Nifty-Monthly Chart (28-Dec-2012):-
Technical Patterns and Formations in Monthly charts
1- 6357.10 on 08-01-2008(All time high)
2- 2252.75 on 27-10-2008(Correction completion)
3- Impulsive Wave-1(6338.50 on 05-11-2010)
4- Corrective Wave-2(4531.15 on 20-12-2011(Rally beginning after 13 Months correction completion)
5- Impulsive Wave-3 is on
Corrective Wave-2 completed at 4531.15 on 20-12-2011 and we told following line at 01:58 AM on 22-12-2011:-
Just click following topic link and verify our above statement on yours own as well as understand technical reasons of 2012 rally:-
When Indian markets were most Bearish after 13 months correction then we told more than 50 times for strong rally with technical reasons in Dec 2011 and Jan 2012.. Analysts may visit Archive of our Blog and understand technical reasons of 2012 rally. Impulsive Wave-3 is on and its strong up moves possibilities have also been updated one year before in following topic on 03-12-2011
Although new historical highs could not be formed in 2012 but impulsive Wave-3 is on and Indian markets are Bullish. Expected that blasting impulsive Wave-5 rally will also be seen in 2013 and:-
1- Fast rally will be seen toward all time high in 2013.
2- Those higher levels will be also seen in 2013 which were considered in Jan 2008 and Jan 2011.
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1- 6357.10 on 08-01-2008(All time high)
2- 2252.75 on 27-10-2008(Correction completion)
3- Impulsive Wave-1(6338.50 on 05-11-2010)
4- Corrective Wave-2(4531.15 on 20-12-2011(Rally beginning after 13 Months correction completion)
5- Impulsive Wave-3 is on
Conclusions from EOD chart analysis
Corrective Wave-2 completed at 4531.15 on 20-12-2011 and we told following line at 01:58 AM on 22-12-2011:-
2012 will prove Bullish year after all corrections completion in 2011
Just click following topic link and verify our above statement on yours own as well as understand technical reasons of 2012 rally:-
When Indian markets were most Bearish after 13 months correction then we told more than 50 times for strong rally with technical reasons in Dec 2011 and Jan 2012.. Analysts may visit Archive of our Blog and understand technical reasons of 2012 rally. Impulsive Wave-3 is on and its strong up moves possibilities have also been updated one year before in following topic on 03-12-2011
Although new historical highs could not be formed in 2012 but impulsive Wave-3 is on and Indian markets are Bullish. Expected that blasting impulsive Wave-5 rally will also be seen in 2013 and:-
1- Fast rally will be seen toward all time high in 2013.
2- Those higher levels will be also seen in 2013 which were considered in Jan 2008 and Jan 2011.