Here is an intrestiing view from Mr Corey Rosenbloom Have a Look at the Article.
Here is the Link
Elliott Wave on the Indian Stock Exchange
You could get a clear picture about the End Result
Related Readings and Observations
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dear raj, u were very right in ur analysis.how do u calculate the index ratio and where is it now.thnx n regards. rashmi
Index ratio = Nifty/Shangai CompositeCurrent Ratio declines from 1.26 to 1.19Shows any small shake in chinese index willheavily affect our performace. When the ratio reaches near 1. we will be trading below 2400.Thats for sure.
dear raj,vry gud analysis.thnx fr it.how far cn the nifty go in the current downtrend.regds rashmi
Anywhere between 2600-2680 before expiry.Where the Lower Bollinger band line could meetnifty in 2 or 3 days
Even there are possiblilites are there that2500 will be tested and bounced back the very same day before expiry