Wednesday, April 15, 2009

EXTENDED WAVE

I had been analyzing this wave which now i feel is a extended 9 wave formation from NS 2773 to 3417. Only break of NS 3300 will confirm the termination of this wave which can lead to correction upto NS 3103-3070. Today's pivot is NF 3387 with support at 3365-3338. Nf will remain weak below 3376. It has to trade over 3387 for upper target 3417-3443. Market is due for correction.