NeoWave Analysis Weekly wave chart Date : 16th August, 2014

Conclusions:

1. A Diametric is anticipated from the end of wave circled d, currently wave (F) of 
anticipated Diametric may be near its end. The breach above resistance area of 7840-
7850 will confirm the completion of wave (F).

2. The pattern inside wave (F) seems to be “Double three combinations”; which is clearer
on daily wave chart. The “Double three combinations” pattern ending above its starting 
point is a very bullish pattern and gives the target of 8500-8550 area.

3. Kindly note, though the “Double three combinations” in wave (F) makes a bullish case 
for Nifty cash, but the wave (F) is a part of Diametric where the power transfer from each 
leg to next is prone to failure. Hence, probability of index reaching target area may vary.

4. In case, if Nifty cash falls below 7540 (before crossing above 7840), then the expected up 
move will get negated.


NeoWave Analysis Daily wave chart 

Conclusions:

1. The Nifty cash may be unfolding Diametric (see weekly analysis) and currently may be
in wave (F) which may be near its completion. Inside wave (F), a “Double Three 
Combinations” pattern is suspected. 

2. The second corrective of suspected “Double Three Combinations” may be Contracting 
Triangle and currently wave (d) of such Contracting Triangle may be progressing. The 
wave (d) is expected to conclude below 7840.

3. The wave (e) may fall till 7670-7630 area but there is no compulsion for it to do so and 
may conclude above 7670 also.

4. The completion of wave (e) will also complete the whole “Double Three Combinations”
pattern and may start the upward wave (G)

5. The wave (G) is expected to reach till minimum of 8220 and may reach up till 8500-8550 
area.

6. In case, if 7540 is breached then the expected up move will get negated.

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