Hi,
In my last weekly report dated 06/07/2014 I was expecting Terminal Impulse but the market was unable to fulfill few conditions on time and price basis (like achieving minimum target of 7850) and hence I needed to change my earlier counts.
In nutshell, I expect Nifty cash to remain sideways in the zone of 7700 and 7100 till August 2014 and thereafter to make new high. I do not see index going below 6850 in any case and if so happens then I may be required to again change my counts.
On shorter term, I expect index to fall towards 7115-7100 area in next 2-4 weeks and to move up from there but may fail to make new high.
On very shorter term, I expect a pull back towards 7650-7690 area which may be reached in next 1-2 days.
Conclusions:
1. A Diametric is expected from the end of wave circled d, currently wave (F) of anticipated
Diametric may be unfolding.
Conclusions:
2. The expected downwards wave (F) may consume around two months and may end
towards end of August 2014.
3. The breach below 7440 may make index fall towards 7115-7100 area and the target may
be reached in next 1-2 weeks. Kindly note, even after breach of 7440, a sharp small up
move may take place.
4. In case, if Nifty cash crosses above 7810 before falling till 7115, then the expected down
move will get negated.
5. After completion of wave (F), the index is expected to move up and make new high as
wave (G).
NeoWave Analysis Analysis of Nifty cash Monthly wave chart Date : 13th July, 2014
Conclusions:
1. The Nifty cash seems to be in wave circled e of an Expanding Triangle. The wave circled
e may be unfolding as Diametric and after 30th June 2014, may have entered downward
wave (F).
2. The downward wave (F); assumed to be started from 7808.85; may fall till 7400-7300
area but if it breaches below 7235 then it may fall further till somewhere above 6850.
3. It is difficult to forecast the bottom of wave (F) as of now but, after completion of wave
(F), the index may move up as wave (G) and may create new high.
4. The current fall, if breaches below 6850 then the above count is negated and in this case,
the wave circled e will be treated as completed at 7808.85.
5. Till 6850 is not breached, a new high above 7808.85 is expected.
NeoWave Analysis by Analysis of Nifty cash Six monthly wave chart Date : 13th July, 2014
Conclusions:
1. A Contracting Triangle is anticipated from the end of wave circled X and currently, the
Nifty cash may be in wave circled D of anticipated Contracting Triangle.
2. An Expanding Triangle is anticipated inside wave circled D and currently, the index may
be in wave circled e of anticipated Expanding Triangle.
3. The wave circled e should be last leg if the anticipated Expanding Triangle turns out to be
correct. Any breach below 7350 during the period of July to December 2014 will increase
the probability of completion of wave circled D. Further, breach below the 6825 during
the same period will confirm the completion of wave circled D.
4. The end of wave circled D may open index for down move that may bring down Nifty
cash till minimum of 6400 levels before end of December 2014.
5. On the above chart, the completion of wave circled D is still not clear and the analysis of
lower time frame chart may provide clue for the same.
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