Dec2,1100AM update

Nifty appears to be completing Wave B in an a-b-c fashion.
The upward move from 4538 -5138 => a of WaveB = 600(16 days)
downswing from 5138 -4806 => b of WaveB = 332(2 days)
Upswing from 4806 - ? => c of Wave B = ?

Wave A = 5181 -4538 = 643 points(10 days)
Wave C to begin
Wave C should be swift and sharp of about 6 days or less .

Nov20 update

Todays closing was somewhat off from what I expected in Scenario 1 given on Nov17 update.
It looks to me C-wave of the correction is unfolding as 5 wave impulse.
With todays closing , we may have ended or close to end of wave2.
So I expect Wave 3 to begin by monday, that should be swift and sharp with possible targets around 4600-4700. Wave 4 should be a shallow bounce to be followed by Wave 5 for a target of
around 4500. I anticipate C-wave too should end in about 10 days.
So if I take Nov18 as first day , then 10th day comes out to Dec1.
This is broadly the pattern I anticipate!.
let's see How Nifty behaves.

Kaps

nov18 update

Another scenario slightly different from my previous update is another option that I see should be possible.
As said earlier, the correction from 5181(oct21) appears to be a flat A-B-C correction.
Wave A = 5181-4538(10days)
Wave B = 4538- 5079...(11 days till today!)
Wave C = To begin
1. Wave B can go upto 5150 and close ~ 5100 on Friday, Nov20.
2.Nov23- Dec4 should see Nifty correcting to around 4400-4500 levels.
3.Dec7-Dec31 , Nifty rising towards 5500.

So we could have either 2(down)-3(up)-2(down) OR 2(down)-2(up)-2(down) as A-B-C correction on weekly basis.

kaps

nov17update

Today being the 10th day of the rise after Nifty hit 4538,Nifty has not taken out the highs of 5181 of Oct21.This implies, it is likely to be a corrective bounce from 4538(the fall from 5181-4538 also took 10days)since any bounce from the lows usually has fast momentum to take out the highs earlier than the fall.Likely scenario for the coming C-wave

1.Friday Nov20- Nifty should end ~4900-5000 if the global cues remain buoyant.
2.Nov23-Nov27- Nifty should get a cut from 5-10%
3.Nov30-Dec4- If Nifty does not fall below or around 4500 previous week, it should fall this week.
4.4400-4500 should likely be the low for this fall.
5.Dec7 Onwards- Nifty should rise steeply towards 5500(+- 200) by December End.

Kaps

Nifty is likely in an a-b-c correction after making a top at 5181 on 20thoct09.
A wave was 5 waves on hourly chart from 5181-4538.(10days)
B wave is unfolding from 4538-5000?(8 days till 13thnov)
C wave will likely be 6-8 days and should be 640-1000 points(1xA OR 1.6A)
Keeping in mind that Nov26 is expiry, I expect that C wave should be over by 24thNov.
Nifty should be at ~4500-4600 on november30 ie monthly closing, so as to complete the monthly a-b-c correction from 5083-4711-4500(approx).

kaps

Nifty for october series

I anticipate Nifty to undergo correction in the october series.
On the weekly charts, I see Nifty should complete it's wave2 (wave 1 being Mar9 to June12) at about 3500-3700 levels.After that wave3 should begin for a possible target of 5500-5800(equal to wave1=> 2154).