Wednesday, July 9, 2014

Nifty has prepared the ground, with a huge fall ahead of "Budget day", for a highly choppy session...


4 comments:

Guru Krishnan said...

With all the below, HHLEMA is still holding.. hoping for some kind of bounce.. let c.. have a great evening..

CDG said...

Dear Ilango,
two queries for your attention please:
1) in the charts above the 5th seems to be quite small. isn't it quite unusall. Generally 5th is considered to be as close to 1st in lenght if not larger.
2) what type of correction will you consider 'abc' of 4th. Is it a flat/irregular (your view please)? to me the 'abc' of 2nd appears to be a flat. isn't it correct?
Regards

Ilango said...

@ CDG,

5th becomes truncated after a strong 3rd. However, this 5th has made a new high but small. Remember this is a tentative label supported by divergence, channel break, etc.

What kind of correction in 4th. Is it 4th or waves are likely to sub-divide - more time needed.
We need to observe the sub-waves of "a" to get some clues, if not all, of the kind of corrective that is likely to unfold..

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