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18 September 2012: Nifty Elliott wave analysis: Move came from 5215 to 5652 with more than 50% rise as gap up so consolidation required. Break below 5584 will give first sign of profit taking. Resistance will remains above 5652.
17 September 2012: Nifty Elliott wave analysis: It will be third gap up in nine days. This kind of gap up is too dangerous even for bulls. “The boosted reforms” by Dr. ManMohan Singh will push stock price higher. RBI monetary policy review and Political development will be more important today after opening.
14 September 2012: Nifty Elliott wave analysis: It is going to be second gap up within past eight days. 5449 will cross in Gap up to generate the target at 5526. It is ‘reverse H&S’ target which has generated in the last month of trades.
12 September 2012: Nifty Elliott wave analysis: It is sustaining above 5378 and hence higher targets are applicable. It may try to move towards 5449 if sustain above 5400 levels. As it is dictated by optimism so the out come of those optimism will drive market trend.
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