Wednesday, May 9, 2012

Nifty P&F (Wk 0705-1105) - support 4925, month long distribution target 4300-4380!


5060 broken. There was no trap.

Weekly Analysis:

Daily Analysis:


Weekly & Daily down. Immediate channel support should not breach 4925. The consolidation in weekly chart has two deep targets VPO @ 4300 (=5620-3*11*40) & HPO @ 4380 (=5340-3*8*40).


  1. thanks for the post though its middle of the week :)
    I am regular weekend visitor to your blog on weekly opinion, as well as daily to sir iLango's blog.

  2. I'm Loving it !!! good work .

    Any point of invalidation for this.and whats ur observation on time target to achieve levels.

  3. @ Anonymous,

    Sorry should have posted at weekend but for some medical urgency at home. Thanks for visiting my blog.

    @ AAR VEE,

    After long time :). Invalidation point: will update in chart this weekend (not breaching 4900 & breaking 5300 as it stands today). I am simply blind when it comes to time in P&F.

  4. your analysis gels nicely with ramki's elliotwave analysis on wavetimes

  5. @ nath,

    You made me search for Ramki. I saw his target of 4350 & invalidation at 5290 level. Now, more people believing in this would simply mean the market has to think differently. So we got to be flexible. :)