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| NIFTY CONTINUATION OF PATTERNS |
The first post regarding continuation of patterns in Nifty first posted on 16th Feb 2011, at that time AB up was under formation.
Subsequent post on 26th Feb indicated BC was near over and larger CD could start.
As the price action in the last week indicates making of CD leg of the formation, will have to watch if the move really is on the way up to complete the formation.
Below is the detailed analysis of the earlier formations and the possible targets for the current formation
Down Trend 1( Start of continuation Patterns)
BAT PATTERN(BEARISH)
fall 6284 to 5966 = 318 points in 5 days
rise 5966 to 6151= 186 points or 58.5% in 3 days
fall 6151 to 5937= 214 points or 115% in 4 days
rise 5937 to 6338= 410 points or 195%in 5 days
PATTERN COMPLETED
resulting in a bigger fall to 5690 in 15 days
Down Trend 2(Larger Pattern)
GARTLEY( BEARISH)
fall 6338 to 5690 = 648 points in 15days
rise 5690 to 6069= 379 points or 58.5% in 6 days
fall 6069 to 5721=348 points or 90% in 5 days
rise 5721 to 6181= 460 points or 135%in 16 days
PATTERN COMPLETED
resulting in a bigger fall to 5177 in 15 days
Down Trend 3(Largest in the making)
POSSIBLE FORMATION
BAT / ALTERNATE BAT/ CRAB PATTERN(ALL BEARISH)
fall 6181 to 5177 = 1004 points in 37 days
rise 5177 to 5599= 422 points in 7 days
fall 5599 to 5232= 367 points in 7 days
IF THE NIFTY GETS SUPPORT FROM HERE THEN POSSIBLE TARGETS
BAT PATTERN
a).rise 5232 to 5965= 733 points in 35-40 days
b)..rise 5232 to 6310= 1078 points in 35-40 days
ALTERNATE BAT PATTERN
a).rise 5232 to 6065= 833 points in 35-40 days
b)..rise 5232 to 6191= 959 points in 35-40 days
CRAB PATTERN
a).rise 5232 to 6383= 1151 points in 35-40 days
b)..rise 5232 to 6799= 1567 points in 35-40 days
In reference to the post read:
BUZZING NIFTY: FOLLOWUP POST NIFTY CONTINUATION OF PATTERNS
BUZZING NIFTY: NIFTY CONTINUATION OF PATTERNS
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