Monday, July 29, 2013

>Nifty elliotwave analysis

Hi friends,
                    Time to revisit an old post about bull and bear scenarios NIFTY .As had told preferred count was bearish nifty made a top near 6090 level and has dropped to 5870,Very rarely or rather say have not seen nifty and banknifty moving in opposite directions july month banknifty gave negative return and nifty gave positive return .The following chart gives my view on nifty for coming months .I expect nifty to hold 5800 and then attempt a rally towards 6050 and then fall towards 5500-5400,These levels can stretch would revisit them when required.
I would reckon banking would be first to bottom,Nifty would find bottom later.

Happy trading..


Hitesh said...


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