HAPPY DEEPAWALI

BEST WISHES AND A VERY HAPPY AND PROSPEROUS DEEPAWALI TO ALL READERS.

MAY GODDESS LAKSHMI SHOWER HER BLESSINGS UPON ALL OF YOU.

GOD BLESS.

Getting Away

This Saturday, I am going on vacations, which should help me get away from the charts for couple of weeks.  I will try and track the Nifty but it is unlikely that I would be able to do any worthwhile technical analysis during this time.

A much awaited break for me.  Hope to get back after 21 November this year.

Best of Luck to the readers.

Nifty Breached 7745 but Wolves Must be Kept Track of

In my last post I had talked about couple of Wolfe Waves developing in Nifty.  Today's fall has completed the 5th wave of the incomplete wave.

While the lack of divergence may indicate further fall,  the things may turn around if Nifty starts closing above the baseline.  Things do look gloomy for now but  a change may not take much efforts from bulls to kick start these wolves.

SUGGEST KEEP AN EYE ON THEM..

Nifty on 13 October 2014 : Wolfe Waves - One on Target, Second yet to Launch

The Wolfe Waves aka WWs are depicted in blue and black in the chart below :

Indications are that Nifty may head for 8100+ very rapidly.  Possible paths are depicted on the chart.

7740 remains the SL for longs.  Shorts however must keep SL at 7975 or 8035 as per own risk appetite.