era infra

ERA INFRA (update)

today if closes abv 5.25 may see it hitting few UC in coming days

WAVE ANALYSIS ON NIFTY CHARTS

9695 CALLING

is 7997 the bottom of 4th wave??(channel charts are indicating of bottom at its place)

or some more downside left till 7599??

if 4th is done at 7997 then 

5th may move up towards 7997+1698(length of 1st wave)=9695

:especially 4th wave tend to retrace to within span of previous 4th wave of one lesser 

degree(3rd ka 4th was 7961)

if its 4th wave running then it has retraced 28%(23-38%)of 3rd wave so far

3rd wave was 5119 to 9119(=4000 pts)

28% of 4000=1120 pts

end of 3rd at 9119-1120=7999


38% of 4000=1520

trgt 9119-1520=7599

4th wave details:

A.9117-8269(=848 pts)
B.8269-8845
C.8845-7997(=848 pts)(4.C=4.A)

also 8010 is 55ema in weekly charts(till it does not give a weekly close below it bulls may bounce back sharply)

Wave 
2.6229-5119=1110 PTS(0.65% of wave 1)(6229-4531=1698 pts)
4.9119-7997-1122 PTS(o.28% of wave 3)