@ Rohit = attached see the pic of both Nifty and RIL. The fall in RIL is clear after the Triangle. Will Nifty Repeat? Very easy answer

@ Manish - I guess you need to reread the Triangles part and understand exactly what RN Elliott said.. Read between the lines.....

Anant
www.appliedelliottwave.com

See the Reliance Chart here

got ur point Anant... thanks again for the help.

@rohit.... thanks for bringing it to my notice

Regards.... manish

A very interesting Pattern has developed on Nifty today.
In opening down today Nifty has exhibited a Kicking Pattern once again. This time to the Downside. This Kicking Pattern is also closing a Gap that was established on January 17, 2012. While it is a little premature to call for an elongated Bearish Trend here today, But if the Kicking Pattern holds by the EOD, then we may see some terrible weakness On Nifty.

The Chart will make this clear

looks similar to something i know as bearish separating line.

Which can also be a trend reversal indication or an exhaustion of the immediate down leg in the very short term. The fall counts as a 5 wave down from the 2/5/12 high so a good retracement might follow