Nifty 03 Sep 2013 : The grand finale

The ET got completed with a spike in the morning.  What followed was a rapid down move to finish the unfinished.  A back test of neckline, which was incomplete at 5118 will complete at 5080 or lower, if done tomorrow.  If the neckline holds, the targets mentioned at Nifty 31 August 2013 : Inv H&S Targeting 6680 could well be a imminent possibility.  Here is the chart :

Nifty 31 August 2013 : Inv H&S Targeting 6680

A closer look on the possibilities posted in Nifty 28 August 2013 : 5790+ is a possibility and Nifty 29 August 2013 : An update. The chart has it all...

Nifty 29 August 2013 : An update

This post is an update on my post Nifty 28 August 2013 : 5790+ is a possibility after the possibility of expanded became invalid...  The target for next move are either 5790+ or a downward leg of 640+ points from wherever this rise finishes.   Keep 6300 at the back of your minds for now...do not think much about it till 5800 is surpassed.

Nifty 28 August 2013 : 5790+ is a possibility

The targets of both the WWs posted at Nifty 19 August 2013 : At a Critical Zone was met and in doing so Nifty has already breached some crucial LT supports.  While the general trend seems to be changing, the path of the fall is not likely to be straight. 

The weekly chart below shows the crucial supports / resistances of TLs and necklines.  It is very clear that the red TLs are providing support near 5250 and any rise will find stiff resistance near blue TLs close to 5650-5750 band.  The lower neckline near 5050 (shown in black) could be the final target for this fall. 

 The hourly chart below shows a WW, which is nearing completion and is ready for launching the target leg.  The target could be 5790+.   The possible fractals and EW counts are also annotated on the chart.  5793 is the max achievable by this expanded flat as shown.   Resistances to watch out for are at 5340 and 5400.  If these are re-claimed by bulls, 5790+ should be a piece of cake.

Nifty 19 August 2013 : At a Critical Zone.

5370-5360 is a very critical zone for Nifty.  The chart below may probably show why this is critical.