Monday, October 11, 2010

11-oct-EOD and some analysis for tomorrow.

The journey of 6300 seems to be very much resistive.
Today Open interest was also not supportive to go up side. From any angle Nifty future was not reflecting any bullishness.
I feel that some down side is left for unfold. So there should be some shape in EW for this down trend from 6248.
A bigger "A" is complete. Now bigger"B" is unfolding in which, sub-wave "a" done,, sub-wave "b" also done,, and last sub-wave "c" is unfolding and i think max to max it can go up to 6174 - 6210, and through this bigger "B" will complete. Now, if tomorrow nifty future starts trading below 6145 and trade below this level for 1 hour and 30 minutes from opening, then NF will not be able to come up to complete bigger "B", and in that scenario, we have to think that bigger "B" completes and bigger "C" is unfolding..


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