Listen, I'm a little worried that I might be a bit of a perv. The issue -- the problem -- is that I have a thing for MILFs, which is to say: women my own age. The National Stock Exchange index Nifty may decline to 4600 level due to bearish signals from Elliot Wave patterns despite it being oversold on daily charts, said dealers and technical analysts.
Elliot Wave refers to a technical analysis technique published by Ralph Elliott, which claims that stock markets follow a pattern of five waves up and three waves down, and three up and five down in a bear market.
The upside on the Nifty (future) looks capped to around 5000 while certain patterns and the Elliot Wave set-up indicate a move down into the 4600-4650 area in the near term, said JM Financial in a note. Since June 2007 the area between 4600 and 4700 has served 6 times as an important support/resistance for Nifty.
At 2.23 p.m., November contract for Nifty was down 2.48 percent at 4793.
Elliot Wave refers to a technical analysis technique published by Ralph Elliott, which claims that stock markets follow a pattern of five waves up and three waves down, and three up and five down in a bear market.
The upside on the Nifty (future) looks capped to around 5000 while certain patterns and the Elliot Wave set-up indicate a move down into the 4600-4650 area in the near term, said JM Financial in a note. Since June 2007 the area between 4600 and 4700 has served 6 times as an important support/resistance for Nifty.
At 2.23 p.m., November contract for Nifty was down 2.48 percent at 4793.
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