ELLIOTT WAVE ANALYSIS OF NIFTY
WAVE THREE OF THREE ALL SET TO BEGIN!
Nifty unfolded the last wave of wave c in an expanded flat (3-3-5) formation.
Logically the next wave downward is all set to begin. This would be a very bearish and a steep fall throwing all pretenses of a rally aside. This wave has its logical target anywhere between 3210 - 2800. There will be several internal waves unfolding within this wave as this wave is the most likely to extend.
Expect a bearish Nifty over the whole of First week of April 2007.
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