Nifty Extreme

NIFTY – Last Close - 5068.50[15-Nov-2011]  

NIFTY – Cycle Perspective

• The above weekly chart explains major cycle analysis.
• The above weekly chart explains major cycle analysis.
• As per Major cycle we are near to end of 4 years bearish cycle.
• The indicated 4 years bearish cycle ends in December 2011.
• The bullish rally will start 2-6 weeks prior to or subsequent to the cycle end date. 
• In the last 4 years we are seeing lower lows and lower highs.
• The next 4 years we will see higher highs and higher lows like 2004 – 2008 cycle.
• We can expect bullish rally in Nifty toward 7500 (Minimum Target) and more. 

    NIFTY – Wave Perspective

• The above weekly wave chart pattern and price development on the chart indicates that the current leg is the last fall for Nifty.
• The down move will end anywhere between 4700 - 4600(Closing basis) levels.
• There is a high probability that the market will not close below 4600 levels.
• As per triple combination wave Z is the last leg of fall which is  progressing towards the above mentioned targets.
• After end of wave Z, the non-standard corrective pattern will be over.
• From the bottom of wave Z , the next bullish leg for the Nifty will begin for a possible target of 7500 and more.  
• As of now market is in line with our expectation. If we observe any changes in the count we will update the alternate count in our commentary.

NIFTY – Advanced Trending Perspective

• The above weekly chart also suggests the current fall will end around 4700 – 4600 band which is vital support.
• The above drawn advanced trending technique holds Nifty within its band from long time.
• The Median line (Red Line) which earlier acted as a vital support for the Nifty is now acting as a decisive resistance for Nifty.(see circled points on the Median Line)
• The Lower parallel line (Brown line) has earlier given strength and pushed the Nifty towards the Median line, (see circled points on the Brown line). Now once again, Nifty’s fall is approaching the Lower parallel line. It is expected to retrace substantially from the point marked Support Line. We have reason to believe that “History Repeats”.
• The 61.8% projection level taken from 2252 to 6336 is placed around 7200 – 7500 range.

NIFTY – Angle Line Perspective

• The 61.8% projection level taken from 2252 to 6336 is placed around 7200 – 7500 range.
• The angle line analysis indicates action and reaction of price from the lines.
• The circled areas are the action and reaction points where angle line acts as support and resistance for Nifty.
• Along with wave analysis we expect that the bolded two angle lines will reverse the Nifty for bullish leg.
• The Lines will act as reaction line and will give support to the Nifty around 4700 – 4600 band.

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