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11 August 2014: Nifty Elliott wave analysis: We have ‘Hammer pattern’ on daily chart. It is showing for potential 1-2-3 days trend reversal but confirmation point will be at 7610/target = 7700. Technical support – 7540-7500!!!
08 August 2014: Nifty Elliott wave analysis: Nifty hourly chart has ‘ending diagonal pattern’ and now adding H&S pattern. Key support will be in 7600-7590 area but breakdown is likely. Expect stiff resistance at 7709 now.
07 August 2014: Nifty Elliott wave analysis: Nifty hourly chart if forming a serious pattern for extension of dip. Have a look at 7640 very carefully. If it fails to revive near 7640 then it can extend fall towards 50 DMA at 7575 levels.
06 August 2014: Nifty Elliott wave analysis: Nifty hourly chart is giving ‘ending diagonal pattern’. It may not find it easier to move above 7800 levels. A fall should come from near to 7800 levels. A brutal sell off coming!!!
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