Major Conclusions: “Market remains weak and negative, major bottom will form @ April-May-June 2014. Level 4700 – 4300 will be seen.”
As concluded earlier on 18th March 2013,
on 20th May 2013(Time wise)…. Market has top out at 6229. (Price wise)
As per Elliot wave, Nifty has top out at 6093 on 23rd July 2013.
After making top, Market fallout heavily…and touched low 5118.
New conclusions, Time cycle still says that market will remain in downtrend; bottom will be form @ April –May – June 2014.
As per Elliott wave ….as shown in weekly chart of Nifty cash, the wave structure shows that Nifty down trend running in primary wave -a…or wave -e (might forming diametric formation…wave -e should fall very fast and sharp. (Time wise, wave -a= wave -c= also wave -e i.e. 59-60 week span i.e. till Nov 2014)
I will update as market progress…
# Perspective change only above 6093 #
Declaimer: Author's recommendations are solely made with the purpose to educate the market Participants / Traders / Investors and enable to them to derive maximum benefits by acting them. While due care has been taken in preparing these comment, no responsibility will be assumed by the author for the consequences whatsoever, resulting out of acting on these recommendations.