Friday, October 18, 2013


CNX Nifty:
Nifty has clearly showed the A-B-C pattern after a long pattern of 5 waves in last 2 years. There were two motive and one corrective wave in this pattern with 5-3-5 pattern. Immediately after the completion of the A-B-C pattern, motive after motive wave clearly implies the major trend reversal from bearish to bullish, starting the 5 wave formation again. Again we already can witness the first two waves one motive and one corrective 5-3- followed by the third wave which is still under construction and may end up breaking the year high 6229 soon through the motive wave (5) pattern as shown. So Nifty rides bulls for now.

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