Monday, 21 July 2014

NeoWave Analysis of Nifty cash Daily and Weekly

NeoWave Analysis of Nifty cash 
Daily wave chart Date : 19th July, 2014

Conclusions:
1. The pattern anticipated from the end of wave (a) is Flat.

2. The lowest point of wave B (inside the anticipated Flat) is less than 123.6% of A and 
hence, there are chances that wave C may cross above 7731.05 (high point of B).

3. The wave C of Flat must be Impulse and thus the index may be in wave iv of the Impulse
pattern. The pattern inside wave iv is still unknown and the probability is high that wave 
iv may unfold as Flat or a Triangle.

4. As per time calculations, the completion of wave iv should not go beyond 22nd July, 
2014. Price wise, the maximum downside limit for wave iv is 7579 levels. The wave v is 
expected to move up till 7730-7750 area.

5. Since wave iii is in Extension, the wave v is expected to be in the range of 45-76 points.

6. After completion of wave C; that is, after completion of wave v; the index is expected to
fall by around 450-500 points.

7. In case, if index crosses above 7810, then the expected fall will get negated.

NeoWave Analysis of Nifty cash 
Weekly wave chart Date : 19th July, 2014

Conclusions:

1. A Diametric is expected from the end of wave circled d, currently wave (F) of anticipated 
Diametric may be unfolding. 

2. The expected wave (F) may unfold as sideways and may consume around 1-2 months and 
may end towards mid August 2014 or mid September 2014. 

3. Since the wave (F) is expected to unfold as sideways {the internal pattern of (F) cannot 
be anticipated as of now}, the first leg fall may find support around 7115-7100 area and 
may be reached in next 2-3 weeks.

4. In case, if Nifty cash crosses above 7750 before falling till 7115, then the expected down 
move will become doubtful and breach above 7810 will negate the same.

5. After completion of wave (F), the index is expected to move up and make new high as 
wave (G).

nitin sir

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