1 Dec 13

Although, the index moved within the range I marked in the last week, it doesn't show a completion status. Maybe, one more week of range-bound movement is expected.

 

The above chart is daily and I have marked my wave count in the perspective. When, I look at the 30-min chart to see how the 'c' has developed. It gives me two views. Please read the following two cases on how I expect the 'c' and 'B' could develop in the coming week.

 CASE 1:

'B' is developing as a 'triangle' (a-b-c-d-e).

If 'c' has ended on last Friday, then expect 'd' & 'e' to follow in the coming week. Here, 'a' & 'b' took 3 days each and 'c' longer time. So, expect 'd' to take the same time as 'a' & 'b'. 'e' could be smallest & sharpest. So, 'B' could probably complete in the coming week.

CASE 2:

 'c' of 'B' is developing to be a terminal.

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In this case, it is possible that '3' is completed or still competing. And the following '4' & '5' waves would not go beyond the range marked in blue lines.

Let us see how market is going to behave in the coming week.

[All charts are taken from www.google.com/finance  symbol: NIFTY ]