(2) Nifty Chart For 12/02/2008 ::


Nifty ::

As per wave analysis now in Nifty there seems two possibilities. Please study the chart carefully to understand the possibilities. One is standard wave count, (In Red), as per this wave count 1 to 5, 5 seems down for first target 4450-and second target 3770. Other wave count is posted in Blue. Most probably it will follow blue wave count. In this it is making Double Zig Zag formation & wave count of "a-b-c-x" & again "a" seems to be completed or will fall a bit & then complete, "b" seems upward from there. The reason of why we belive the a-b-c-x wave count to be Most probable is because, 1. Markets have already corrected 25% from top, 2. Markets in highly over sold condition, 3. Most of long term charts are at support. 4. Even International markets are at support. So, any of the two can happen, what will happen only time can tell, but we believe, the condition of a-b-c-x and again A-B-C seems more likely. For 12th Feb. our strategy ,Buy on deep sell at high.. Support at 4830/4760/4682/4556/4500/4450.. Resistance for up move at 4880/4955/5035/5076..