Tuesday, December 16, 2008

>Technical Analysis Nifty

Its been quite some time since i posted analysis on Nifty .
In the last analysis Nifty Analysis I discussed about this full
structure from 2250 oct low could turn out to be either a
bearish Flat or a triangle.

The things are slowly getting cleared.

The rise after the lower target of 2500 till now is turning out to be a 3 wave.
Which can target 3130-3150 before any big fall.

So,Here are the options.

First if its a triangle 2 important things to watch out.

Nifty touches 3130-3150 and falls below 2800(Which confirms that this is a triangle)

Second If its a bearish flat it can target higher levels than (3130-3150)

The required condition to be fulfilled for this to happen would be

Once nifty touches (3130-3150) any corrective fall after that should not breach

Of course once bearish flat upper targets are done then 2800 will not hold any significance.
So keep the levels handy and trade accordingly.




Anonymous said...

Nice analysis, u r right here. My target is 3350.

Unknown said...

Thnx n good analysis, my trg for nifty is 3200 on expiry.

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