I have already given a target of 5050 for Nifty (which is quite ambitious as of now) but is quite possible...This is the progression on the 6th extended bullish wave and this time it has taken the structure of a fully matured "W" pattern...This pattern becomes ideal when the following happens.....
1. The first leg goes up.....
2. Then 2-3-4-5 legs goes down and up in succession in a parallel trending downwards...
3. Thus giving the 6th leg or the "W" leg the chance to blow up like a gun fire.....
Already we have seen the phenomenal rise from 3900 to 4550.....Yesterdays 170 points fall from the top after meeting my target of 4550 was mainly due to the completion of the 1st target of the progressing wave, where the balance of the system got even after the 1-2-3-4-5 downward trends.....
P.S.: Many people ask me to explain my theories with charts.....But one has to understand that due to my professional commitments, I cannot publish charts freely on the net. Further these are my own researches and are not meant for free circulations....Yet, I have mentioned certain ideas above....Hope it helps all of you to have an basic idea of it....One can refer to the 1-month Nifty futures EOD charts for all references....
Now, the question is when will the target be met?
See......this time "W" pattern is an ideal one which is a very rare case on EOD charts....As a result, the the target can be met in as fast as the 2nd week of August......Unless, 4700 proves to be a vital resistance zone (which it should not). I personally feel that the current upward slope will be maintained thus keeping the angle of inclination of "W" more or less intact......If that happens, we will see a very fast upmove.......
Let see what is in store for all of us.....Keep visiting the site for regular updates.....
1. The first leg goes up.....
2. Then 2-3-4-5 legs goes down and up in succession in a parallel trending downwards...
3. Thus giving the 6th leg or the "W" leg the chance to blow up like a gun fire.....
Already we have seen the phenomenal rise from 3900 to 4550.....Yesterdays 170 points fall from the top after meeting my target of 4550 was mainly due to the completion of the 1st target of the progressing wave, where the balance of the system got even after the 1-2-3-4-5 downward trends.....
P.S.: Many people ask me to explain my theories with charts.....But one has to understand that due to my professional commitments, I cannot publish charts freely on the net. Further these are my own researches and are not meant for free circulations....Yet, I have mentioned certain ideas above....Hope it helps all of you to have an basic idea of it....One can refer to the 1-month Nifty futures EOD charts for all references....
Now, the question is when will the target be met?
See......this time "W" pattern is an ideal one which is a very rare case on EOD charts....As a result, the the target can be met in as fast as the 2nd week of August......Unless, 4700 proves to be a vital resistance zone (which it should not). I personally feel that the current upward slope will be maintained thus keeping the angle of inclination of "W" more or less intact......If that happens, we will see a very fast upmove.......
Let see what is in store for all of us.....Keep visiting the site for regular updates.....
No comments:
Post a Comment