Nifty Rally Topped on Friday March 4th?

Posted: under Predictions, Stocks.
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By request here is a chart for S&P CNX Nifty 50 (^NSEI), with a spiral calendar grid drawn backward from Friday’s high on March 4th. There are good spiral calendar alignments at F1, F4, F6, F8, indicating that date was likely the top of a three-wave corrective rally from the February 11th, 2011 low.
I recommend clicking on the chart to see the enlarged version as browsers tend to do awful things to shrunken images, such as remove price bars entirely.

S&P CNX Nifty (^NSEI)

Spiral Calendar Turn Dates Chart For S&P CNX Nifty (^NSEI) for March 7th 2011

Spiral Calendar Turn Dates Chart For S&P CNX Nifty (^NSEI) for March 7th 2011 – click to enlarge

Comments (2) Mar 08 2011