Nifty Futures Hourly Charts Shows the Development of Negative Divergence Pattern and also finishing the simple visible 5 wave Elliot patterns as shown in the figure. Now its time for corrective Pattern to takes place for a target of 3250
Dow Jones finish Supper Cycle Zigzag wave A-B-C of C OR may be finish Super Cycle Fifth of 3rd .. In this correction falling magnitude same as last heavy correction 1930 .. As per Elliott wave rule it’s vary difficult to wipe out all looses in shorter time frame.. Dow just finish corrective A leg and now moving up for corrective B leg.. Minimum time frame of this A-B-C correction at least in between 34 to 55 months (3 to 5 years), with targeting of 5000 to 6500..
Nothing to worry for Asian-Pacific regions emerging market long term investor, Slowly-Slowly all Asian market digest this situation and ignore US and Europe market and move up with there own strength.,, All market may be bottoming out within 6 month to 1 year..
Infosys - daily chart above and weekly chart below. In all the weekly charts here the red line is the 40 week average (corresponding to the 200 day average on the dailies) and the blue line is the 10 week (50 day average on the dailies). All the stocks here are above these averages.
TCS - Daily chart above and weekly chart below
Wipro - daily chart above and weekly chart below
If we compare these three stocks on the basis of their October 2008 close, then Wipro is the strongest and has gained +50.66% followed by TCS at +25.54% and Infosys at +20.57%.
If we compare with their close on Jan 22, 2008 (the day the market tanked), then Infosys is above its Jan close by +15.56% while TCS is below by -21.39% and Wipro is below by -23.41%
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