I have already posted my view on Nifty by Monthly basis , and its same on detailed manner ,
I have used Pitchfork to indicate the divergence in the trend when trend shifts form TINE 1 to TINE 2 , i have also placed the wave Numbers for your convenience
the primary wave started in Dec 2011 and time wise we are in wave 4 , price wise we are about to complete wave 4 , both time and Price are about to coincide
You can see as many as 657 Scrips have gone below 52 Week , its an clear message that this is a phase of accumulation by institutions before the new trend resume
as we are expecting to be wave 5 , typically before wave 5 all the bad news come in to force making it impossible for smaller investors to think of even holding any scrip in their account , and it was explained by R N Elliott in his books ,
Well look for consolidation before an last move down and then wait for market to rebound its move to up side
Good luck
I have used Pitchfork to indicate the divergence in the trend when trend shifts form TINE 1 to TINE 2 , i have also placed the wave Numbers for your convenience
the primary wave started in Dec 2011 and time wise we are in wave 4 , price wise we are about to complete wave 4 , both time and Price are about to coincide
You can see as many as 657 Scrips have gone below 52 Week , its an clear message that this is a phase of accumulation by institutions before the new trend resume
as we are expecting to be wave 5 , typically before wave 5 all the bad news come in to force making it impossible for smaller investors to think of even holding any scrip in their account , and it was explained by R N Elliott in his books ,
Well look for consolidation before an last move down and then wait for market to rebound its move to up side
Good luck