This is an update of what has happened!!!!!
As suggested on Sunday, May 20th, 2006 at the following page : http://dynamictrading.blogspot.com/2006/05/nifty-elliot-wave-counts.html
Nifty has taken support at 0.618 Level, see the circle marked in RED. Actual (0.618) 2871.90 Low reached 2896.40 A Difference of only 24.50 points on the NIFTY.
NOW WHAT?
We now have to see, if this support holds!!!!!!
Another important point is that if this 0.618 is broken then all hell will be let loose, & should not trade below 2669.20, Which was the top of wave 1. For details please check the chart attached.
Monday, May 22, 2006
UPDATE OF NIFTY ELLIOTT WAVE ON WEEKLY
This is an update of what has happened!!!!!
As suggested on Sunday, May 20th, 2006 at the following page : http://dynamictrading.blogspot.com/2006/05/nifty-elliot-wave-counts.html
Nifty has taken support at 0.618 Level, see the circle marked in RED. Actual (0.618) 2871.90 Low reached 2896.40 A Difference of only 24.50 points on the NIFTY.
NOW WHAT?
We now have to see, if this support holds!!!!!!
Another important point is that if this 0.618 is broken then all hell will be let loose, & should not trade below 2669.20, Which was the top of wave 1. For details please check the chart attached.
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