Equity Market Pundit

Hi All

With Reference to my las t post in my blog..........

So we saw a steep fall today but you may wonder if it is still going to fall and is that the rally is over.

But in my view the the correction that we saw today was of very short term in nature and a new rally is in the begining that will take us to the new highs and take the nifty to the levels of 3940 as I said to you earlier ..

I do belive that this perticulr level of 3940 shall bring in a major correction that may bring us too the same level as we are today . For the longterm the bullish sentiment is here to say .

I think that we are in the third wave of intemediate term which should atlest go on to the levels of 3940 if not more ( as the third wave is never the shotrest ) The steep fall that we saw in the month of may is still away ( Praobably at the 4980 levels of the nifty which is too far ( We would ofcourse have the midterm correction as we had today and some of the larger degree)

For Monday if we still see a fall it should not exced any below 3821 and the next support level of 3797.

I do invitte the views of people who follow the Eliott waves and the Fibonacci series.