Weekly wave chart
Conclusions:
1.
From the end of wave (B), a “Double Extension Impulse” pattern seems to be unfolding as wave (C) which is a part of larger Zigzag pattern.
2.
Currently, the Nifty cash may be in wave (v) which seems to be Terminal Impulse due to overlapping between waves 2 and 4.
3.
It is still not clear that wave 4 is completed or not. But in any case, wave 4 should not fall below 7401 and may conclude somewhere between 7465 and 7401. The breach below 7401 will make the Terminal Impulse pattern doubtful.
4.
The conclusion of wave 4 will make Nifty cash to move upwards as wave 5. The maximum upwards level that can be reached by wave 5 is 7905 whereas the minimum requirement is breach of 1-3 line.
5.
For longs, stop loss can be placed below 7400 of Nifty cash.
Daily wave chart
Conclusions:
1.
The Nifty cash seems to be unfolding “1st wave extended Terminal Impulse” pattern.
2.
It is still not clear that wave 4 is completed at 7441.60 as Contracting Triangle or still going on as a Diametric.
3.
On 30th June 2014 (next Monday), if Nifty cash crosses above 7540 without crossing below 7480 then it is sure that wave 4 got completed at 7441.60. Else, if index crosses below 7480 without crossing above 7540 then wave 4 is still unfolding.
4.
If wave 4 is completed at 7441.60 (1st scenario in point 4 above) then index is expected to move up as wave 5 and should cross above 1-3 trend line in next two weeks. The minimum target thus is around 7800 plus levels.
5.
If wave 4 is still not complete (2nd scenario in point 4 above) then index may fall till 7440 levels (or more but not below 7401 in any case) and thereafter wave 5 may start. The wave 5 in this case is again expected to cross above 1-3 trend line.
6.
One can buy Nifty futures, if Nifty cash crosses above 7540 with stop loss below 7480 for minimum target of 7800 in next two weeks.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
Conclusions:
1.
From the end of wave (B), a “Double Extension Impulse” pattern seems to be unfolding as wave (C) which is a part of larger Zigzag pattern.
2.
Currently, the Nifty cash may be in wave (v) which seems to be Terminal Impulse due to overlapping between waves 2 and 4.
3.
It is still not clear that wave 4 is completed or not. But in any case, wave 4 should not fall below 7401 and may conclude somewhere between 7465 and 7401. The breach below 7401 will make the Terminal Impulse pattern doubtful.
4.
The conclusion of wave 4 will make Nifty cash to move upwards as wave 5. The maximum upwards level that can be reached by wave 5 is 7905 whereas the minimum requirement is breach of 1-3 line.
5.
For longs, stop loss can be placed below 7400 of Nifty cash.
Daily wave chart
Conclusions:
1.
The Nifty cash seems to be unfolding “1st wave extended Terminal Impulse” pattern.
2.
It is still not clear that wave 4 is completed at 7441.60 as Contracting Triangle or still going on as a Diametric.
3.
On 30th June 2014 (next Monday), if Nifty cash crosses above 7540 without crossing below 7480 then it is sure that wave 4 got completed at 7441.60. Else, if index crosses below 7480 without crossing above 7540 then wave 4 is still unfolding.
4.
If wave 4 is completed at 7441.60 (1st scenario in point 4 above) then index is expected to move up as wave 5 and should cross above 1-3 trend line in next two weeks. The minimum target thus is around 7800 plus levels.
5.
If wave 4 is still not complete (2nd scenario in point 4 above) then index may fall till 7440 levels (or more but not below 7401 in any case) and thereafter wave 5 may start. The wave 5 in this case is again expected to cross above 1-3 trend line.
6.
One can buy Nifty futures, if Nifty cash crosses above 7540 with stop loss below 7480 for minimum target of 7800 in next two weeks.
WHAT EVER YOU EARN FROM MY CALLS PLEASE GIVE 10% PROFIT'S FOOD TO COWS AND DOGS HELP THM GOD WILL HELP YOU-!!!
How about this?
ReplyDeleteWave 4 should be smaller than Wave 2. according to that rule, wave 4 seems to complete where you have written '4?' first. And wave 5 is in progress however, wave 5 should not brake 2-4 trend line unless wave 5 is elongate flat so if we take that scenario, wave b of elongate flat is in progress. It should end near where Wave 4 i.e 7480 and after that wave c of wave 5 will start which takes approx. same time as wave a + wave b.