Nifty Exclusive @ 05-Apr-2011

NIFTY – Last Close – 5908.45 [04-Apr-2011]                                               

Ø      The above weekly chart pattern and price development on the chart indicates the current up move will end anywhere between CMP to 5950(Closing basis) levels.

Ø      Higher chances for market will not close above 5950 levels.

Ø      If the c of (b) ended below 5950(Close) then the (c) will be process toward 4900. In other words as per current Pattern and price development Market will test 4900 levels atleast.

Ø      As of now market is in line with our expectation if any changes in the count we will update the alternate count.  

Our Earlier Nifty Wave Charts:

Ø      We made the above weekly chart week ended on 11/02/2011 (Close 5310).

Ø      As per this we had indicated 5800 – 5850 levels which are the minimum targets.

Ø      We caught almost 500 to 550 points.

Ø      Now it tested all our Targets and the market is in the Crucial Resistance Zone which is placed in the band of 5850 – 5950 levels where we are not participating.    

Ø      This is one of our weekly charts made on 03/01/2011(Price around 6171).

Ø      As per this we had indicated 5600 – 5400 levels which are the minimum targets.

Ø      We caught almost 570 to 770 points.

Ø      After the entire Target tested we were not seeing any reversal for Buying.

Ø      We thought Market will hold 5340 which was cluster support.

Ø     Finally we were not participated aggressively in the range between 5340 – 5177 and also we got little confused in this band when the volatility was extremely high.