Fibonnacci [24-12-2010]

Highly over bought in Daily zone, Bullish zone on Hourly zone implies high

volatile market with then and there profit booking

5900 is crucial level for nifty on closing basis for further weakness

Fibonnacci [23-12-2010]

Elliot Wave [22-12-2010]

Trend Line [21-12-2010]

Fibonnaci [20-12-2010]

Nifty Trade Support level 5924-5917, resistance 5956-5963

Nifty Trend Support level 5894-5888, resistance 5994-6000

CASH NIFTY Analysis : NIFTY CHART 

Todays closing CASH NIFTY level is very important, consecutive 

close above 5963 for two days then minimum target 6060-6090, 

Expected short covering above this level.  This Triangle formation

is bullish,  But cluster of resistance are there. so wait and watch 

the closing level for further action.

Life in Elliot Wave

Should the Government learn the Elliott wave Principle

Author: Eric Morera
The Elliott wave principle is a huge part of our life , many of us do not notice how our life runs in cycles .Since the moment we are born our life is a impulse to the moment we die . As a Kid , we learn to walk speak and go to school , that wave 1, then come teenagers mistake , huge mistakes , that is wave 2 , then come the best part , we finished University , we start making money we are the kings , every thing is powerful , we can do everything, that is wave 3 , then come the mid-life crisis , wave 4 and then the Fifties  , we are producing but the energy is gone , not momentum that is wave 5. at 65 we retired and come wave a we feel bad , depressing, we have to much time that is wave A , then we learn to live in retirement , a false recovery wave B, and then come the end , wave C when we die , and then a new life begin , a new cycle begin. That Is life fellow and that Is reality.

Mr Elliott did not realized what he was discovering when he did , government , countries , everything follow a cycle . I was Listening to our president today and I came with the idea , that  our government should learn the Elliott wave principle. They should know that  like humans life is a cycle , economic is a cycle . I saw our president extending the unemployment benefit , wanting to increase the Tax break to the only people who create Jobs what a mistake. Our economic world saw a great wave of reality in 2008 .If our government would know the Elliott wave principle , they should know that this is wave B when false recovering happen , when the unemployment is extended , when people are paid $ 8000 .00 dollars to buy a house , when they are paid to buy even car, all those are illusion or false recovery . lets credits the Job creators and our illusion base recovery will become reality . Wave C will happen yesterday the S&P printed a new 2 years high in other word has take 2 years to recovery the 61.8% of the lost in 2008 , there is not momentum to the upside , how it will be if it is a illusion . I will said again , Government , should learn the Elliott wave principle and until wave C happen not a new economic cycle will begun, we should be taking measures to pass the storm , instead of wasting money creating a wave B false recovery . I will teach the president Elliott wave Principle  if he wants.
Article Source: http://www.articlesbase.com/currency-trading-articles/should-the-government-learn-the-elliott-wave-principle-3830407.html
About the Author
Eric Morera senior expert at Elliott Wave Forecast, provide technical analysis for forex investor based at Elliott Wave Principle