Monday, April 4, 2011

Nifty

We've got a bearish BAT Gartley pattern in the making with a maximum upside potential of 6060.

From the earlier top of 6335 we had a similar pattern with targets of 5500 & 5200 (both of which were achieved)

In this pattern:

X is considered as a swing high and taken at 6180
A is taken as the swing low at 5176
B is taken as the next swing high at 5604
C is taken as the next swing low at 5350
D is in the making - can head up to 5927 (227% of BC) / 6021 (261% of BC) / 6060  (88% of XA) which would be the maxium upside potential.

Targets for this BAT would be 5500 (61%) / 4950 (127%) & 4650 (161%)

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4 comments:

  1. vAsiSThaApril 5, 2011 at 8:48 PM

    WWI, please check Bhushan steel chart as well. I think there is a similar bearish bat formation. D at 490.

    ReplyDelete
  2. veerApril 10, 2011 at 9:15 PM

    Dear WWI,

    Should we have to use closing prices for calculation wolf waves? Please guide.

    Regards,

    Veer

    ReplyDelete
  3. UnknownApril 10, 2011 at 9:29 PM

    Closing prices not imp for ww it has to be used with some more setups

    Bhusan.similar to nifty

    ReplyDelete
  4. veerApril 11, 2011 at 7:07 PM

    Thank you.

    Regards,

    Veer

    ReplyDelete

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