Conclusion:
1. The presence of too many possibilities indicates that the pattern is away from completion and
more data points will be needed to identify the end of pattern.
2. The Nifty cash may remain moving between 6740 and 6875 for next 3-4 days.
3. The level of 6875 needs to be breached for Nifty cash to move up but if it falls below 6665
on/before 1st May 2014 then the pattern has completed.
4. The important levels to watch during next 3-4 days are 6875, 6740 and 6665.
5. The probability of moving down will increase if 6740 is breached and moving up will increase if
6875 is breached.
Chart notes:
1. The 1st rectangle measures price vertically and time horizontally.
2. The 2nd rectangle also measures price vertically and time horizontally.
3. The horizontal line between the 2nd rectangle is 61.8% level of price
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