Tuesday, October 13, 2009

>Nifty analysis

Hi friends,
The current structure in nifty suggests following few scenario's.

a) A triangle consolidation which possibly suggests a 4th wave underway.

b) A abc flat and now a possible impulse underway.

Lets discuss both scenario's

If a triangle price needs to take a dip to complete e wave of triangle before the breakout or

If no dip seen then it would suggest an impulse underway after abc flatimpulse counts will change according to the spike 5100 would act as stiff resistance
(double top).

This nifty rise would be probably backed by rises in banks and reliance pack IT biggies have
either hit double tops and are retracing the recent fall.


PS:-My views are for traders always use sl


Rish said...

looks like the impulse is underway the 3rd of impulse should target 5120-5131 before 4th consolidation

sanjay sanghvi said...

Please change the black background to a lighter shade as charts are not clear.

Rish said...

Sanjay click on charts they will expand nicely then:)

Vishal said...

5120 target archieved

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