Apr 05, 2013

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HORIZON INVESTMENT AND ASSETS

CNX NIFTY
CNX NIFTY WEEKLY WAVE CHART

ANALYSIS BY IMRAN SHAIKH

Daily BIAS = Down, Weekly BIAS = Down, Monthly BIAS = DOWN. We witnessed last week at upside achieved second higher level of 5607 (high 5610.65) above 5555 and on lower side achieved 1st lower level of 5526 and successfully entered in target area.
F

6100

6000

D?

5900 A 5800 a

b D

5700 c C E 5500 G/a? 5400 b?

For this week watch initially level of 5559. If we will able to cross and sustain above 5559 can head to higher levels of 5611<5665. Above 5665 bullish sentiment having chances to accelerate for 5755. Failure to cross or hold it can damage price up to 5476>5537>5375 or lower in panic condition. Watch red colored trap area

5600

5300

Preferred structure: Diamond shaped Diametric Alternate possibility: Expanding Triangle Diamond shaped Diametric- 7 legged formation A= 6111.8-5883.65= 228.15 Points/3TUs B= 5883.65-5971= 117.10 Points/3TUs C= 5971-5663.60= 307.4 Points/4TUs D= 5663.6-5863.6 (concluding below 5971.20 top) = 307.6 Points/ 4TUs E= 5863.6-5604.85= 258.75 Points/3TUs F= 5604.85-5754.60= 149.75 Points/ 1TU G= 5754.6-5477.20= 277.4 Points/2TUs (Still not concluded). It have target range of 5526-5375. In worse condition may go lower but have to not sustain there. This pattern showing relation ship in adjacent segment by Time wise almost 100% except F leg. Complexity wise 1 level except F leg. Price wise we need A= G 100-161.8% and now in this range. B /F and E/ C showing approximately close to 78.6% ratio. 78.6% ratio still we not used in NEo Wave but observing it at various pattern and want to give some focus on it. Study shows that 7.86 is SQUARE ROOT OF 61.8 which we are commonly using. In general we are well familiar with no. 786
Well to conclude G 5477.2 we need faster retracement of 5665 and 5755 within 1+1 TU i.e. next week. If happen will consider G concluded at 5477.2 and we are in counter directional one larger degree wave for higher levels of 5820-5868 or higher.

If failure to do faster retracement has to consider we are in still in G leg and probably lower levels have to come. Thanks Well Trade Friends For any query or suggestion feel free to call on 9823543339

*This report prepared for educational purpose of our clients. Though extreme care has been taken during preparation of this report we can't deny chances of error. The reader is solely responsible for all trading action taken by him. Neither analyst nor Horizon Investment and Assets are responsible for any loss if occur.