Thursday, April 11, 2013

>Nifty bearish scenario

Hi friends,
                   The nifty has been in a down move for quite some time now .Its been a slow drag
with in between fast bouts of dump.
Wave wise looking at structure on a weekly chart it suggests we could be in for a serious damage
in coming months after a relief rally ,I would suggest to book profits in coming rises and come out from struck positions after some relief.
We could be in making of big ABC structure which if materializes can seriously damage ones portfolio ,Would rather say has already damaged ,Ask someone having midcap portfolio.
Coming back to charts nifty is forming a squeeze which should give a relief rally in some time
Nifty support lies in 5470-5400 range


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