Nifty View for 04-03-2013

Out of two probabilities posted on Thursday, Nifty did not invalidated any of the two probabilities..

a) Double zig zag pattern is getting invalid above 5849.9 .... why? Start of X will not be taken out by Y... 

b) Impulse extension is ruled out above 5748.6... why? In third wave, fourth wave wont do overlap with first wave...

Monday might be expected in the range 5673-5769...

Option a:

And this small b assuming option a playing out..

counts projected could be as below

(a)    5673.60 5728.10 54.50

(b).a    5728.10 5691.80 36.30

(b).b    5691.80 5739.45 -47.65 -1.31*(b).a

(b).c    5739.45 5680.71* 58.73

(c)    5680.71* 5768.89* 88.18

Option b:

If it is wave iv (abc) might already ended at 5739.45.. c wave appears as 3-wave which forces to think as ascending triangle view..

(a)   5673.60 5728.10 54.50

(b)   5728.10 5691.80 36.30

(c)   5691.80 5739.45 -47.65

(d)   5739.45 5691.80*  (should not go below 5691.8 start of b)....

(e) should go above 5739.45 but not above 5849.9....