Have a look on my earlier post of 22nd Oct'09 when the same Gann Fan chart was posted with major trendline breaking picture. On that day I mentioned that Nifty break major support line 1st time on that day. And it now get support of next line....
Saturday, November 7, 2009
Friday, November 6, 2009
Wednesday, November 4, 2009
Tuesday, November 3, 2009
Due to heavy power failure, i was unable to post intraday call yesterday. And due to heavy work presure today, i'm unable to post call...
Monday, November 2, 2009
Market view ---- Longterm basis (Daily & Weekly chart)
Elliott Wave - Daily Chart
Elliott Wave - Weekly Chart
This is a weekly chart of Nifty Fu. Weekly basis, it is clear that market is in corrective mode. Let me discuss about the graph:
1) If 3rd wave is completed here, it will now create 4th wave. For that target may be withing 4550 to 4200. To come this level, in daily basis Nifty will create A,B,C pattern. This mean, form 4600-4700, it will go upto 4850 to 4925 level. Then final correction will be started upto above mentioned (4550-4200) level. Then Nifty will run for Final target (5th wave), which will definitely cross 2008 High.
2) If 3rd wave still not completed, Nifty will take support form 4600-4650 level and move forward. Closing above 4950 for two consecutive days will confirm for upmove.
