sir, i think yesterday it self 5191 made D . pl give your view.
As per this count, wave D began in December 2011, at 4531 and ended at 5629. This leg is "a" of D.Then Nifty reacted to 4770. So 5629 to 4770 is "b" leg of D.Currently we are in "c" leg of D. This c leg can be a Fibonacci multiple or equal to "a" leg. Leg "a" of D was 5629-4531=1069.Now the interesting question is, will "c" leg of D be equal to 38.2% of leg " a"of D = 408? Which means D could terminate around 5178.We already know that Nifty reached and reacted from 5191 on June 18, 2012.This really is your question, is it not?50% of "a" leg for "c" would be 5304.61.8% of "a" leg would be 5430.76.4% of "a" leg shall be 5587.100% of "a" leg shall be 5839.Both "a" of D and "b" of D complex waves, well channelized. So it is possible that "c" of D which is currently on is an impulse wave. Leg "a" of D had taken 45 trading sessions and "b" had taken 70 trading sessions. As of June 19,we have only completed 11 trading sessions.If you calculate a fibonacci time line of 61.8% of leg "a", it comes to 28 trading days. So as of today we may have another 16 more trading sessions left before D ends.This comes to 11th July and 19th July is when Mars forms a square to Uranus and Pluto and a trine to Jupiter. So this time band could be important. Such a time period may also allow an Impulse wave to unfold.Of course uncertainties could also cause Nifty to meander a bit and consume more time. This means 5430 looks interesting and a possible top formation number.Of course all this is conjecture. Let the day to day technicals guide us to the true behavior of the market. All we require is a reasonable sense of the near term trend,isn`t it?
SIR PLZ TELL ME WHICH SOFTWARE ARE YOU USING FOR THE ANALYSIS -
Dear GP,I use Chart Alert software.Please visit www.chartalert.com for more details.Regards,Suresh