A post after sometime, The present structure of nifty looks like unfolding the complex
wave corrective pattern W-X-Y-X-Z.
This thing looks quite complex but when broken into small pieces look simple,
This last Z cont can go wrong if the present move goes above 5220.
5115-5120 is stiff resistance range also golden fib ratio area.
Longs need to be carefull in this range we did touch 5100+ today
The following chart shows the present structure
Take wise decision and follow levels strictly.Won't be a easy trade as to much news flowwhich induces noise in charts result !!! complex correction.
Do let me know your counts if any.
Regards
Rish
RESEARCH REPORTS
It amazes me that you continue with this lunacy :-)
ReplyDeleteiam also expecting a more correction as u said
ReplyDeleteNot gonna be a easy rise As in these kind of corrections one day it looks like its over other day it looks like noway still lot to go. It requires guts + common sense too i guess with so much news flow round the corner.
ReplyDeleteWhat if you just do not let news enter the charts and trade/analyse based on Tech only ... charts show it all before imo ...
ReplyDeleteThe market now has more to do with news and less to do with technicals, the Nift broke 200 dma only because of Germany news.
ReplyDeleteI am expecting a great fall in US markets and further fall in Asian markets tomorrow
Great Rishi.. your 'Z' mark achieved... now what next ?
ReplyDeletegood analysis ...keep it up sir
ReplyDeleteHi Rish
ReplyDeleteupdate pls