WaveTrack International

Elliott Wave Financial Price Forecasting

India-CNX Nifty 50

by m.tamosauskas| December 12, 2012 | No Comments

Primary wave B that began from the 2010 high of 6335.90 and unfolded as a counter-trend sequence to wave A is shown to have completed at the 2011 low of 4531.15. The subsequent upswing to 5629.95 is labelled as ending intermediate wave (1). From there, wave (2) counter-trend declines are unfolding into a running flat sequence, a-b-c. Wave a. declines to 4770.35 are followed by wave b. advances that are shown to be underway to idealised upside at 5998.40, the fib. 38.2% extension of wave a. A subsequent reversal from there will trigger wave c. that is expected to decline in the months ahead with ultimate downside to 4920.50, the fib. 61.8% support of wave (1).

 (Become an EW-Compass report subscriber and see how this pattern continues to develop and what’s coming up in the larger time-series).

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