Nifty View for 07-03-2013

Counts of Y.b as follows:

a: 5673.60 5739.30 65.70
b: 5739.30 5663.60 -75.70
c: 5663.60 5828.7*  126.5* so far done 2.513*a  (can do Max 5836 @ 2.618*a)...

Y.c expected to do 130 pts to 210 pts  from end of Y.b but will do min 5663.6...

Beyond 5837, counts need to be relooked...

Expected negative divergence still not convincingly occurred to confirm this upmove ended...

Back test of yellow line on 30 mins/light green line on 60 mins will occur tomorrow approx 5740-5760 before further upmove...

Failure to stay above yellow line on 30 mins/light green line on 60 mins confirms this upmove ended...

Negative divergence on 7 mins chart will occur as shown (will dip tomorrow approx 5740-5760 and after that a rise is due upto today high so that divergence can be generated)... 

Break of pink line on 7 mins chart confirm this upmove halted temporarily and dip is likely tmrw....