NeoWave Analysis of Nifty cash Daily wave chart Date : 6th May, 2014

Conclusions:

1. From the end of wave (f), a “Double Combination” pattern is anticipated which consists of 
“Zigzag” and “Contracting Triangle with reverse alteration”. Currently, wave E of “Contracting 
Triangle with reverse alteration” may be progressing. 

2. Time wise, wave E of “Contracting Triangle with reverse alteration” may consume 2-4 days, that 
is, the whole pattern may get completed on or before 12th May 2014. 

3. Price wise, the wave E may move up till 6795-6830 area and may end in this mentioned area. 

4. The “Contracting Triangle with reverse alteration” is a five leg pattern and wave E will be its last 
leg of the pattern. The completion of wave E may open index for downward move and the fall is 
expected to be minimum of 450 points which may get completed before end of May 2014. 

5. In case, if index crosses above 6875 then the expected fall will get negated. 

6. If index falls below 6680 then wave D is still incomplete. In any case, the index should not breach 
below 6650 before completion of wave E since it will invalidate the whole pattern. 

7. The important levels to watch during next 2-3 days are support area of 6690-6680 and resistance 
area of 6795-6830. 

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