AUTOMATED TRADING

AUTOMATED TRADING

1 December 2012

ENJOY NIFTY AS PER ELLIOTT WAVE

After giving robust jump nifty broke the previous high and confirmed the wave 5 structure. As i have been writing since so many days that nifty is heeding towards 5950 But impulsive buying should extend the rally up to 6108. As per rule, 5th wave should have the same length of wave 1, which is 608 points. Another indication is bullish flag pattern. According to this rule nifty should rise the hight of flag. The hight of flag is 618 points. All are targeting nifty above 6100 very soon. So there is possible 600 points rally from 5548 level. Bulls giving warning to bears that will not be easy to break up trend. So I highly feel that Short players may get trapped at 5950 level.  

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