Hi friends,
Nifty continues to move up after small abc ,Its entering
the gap area and also the important retracement zone of 61.8%
and 78.6% ,Usually nifty reacts to this range before reversing.
Lets look at the chart.
So nifty should
resist 6190-6200
range above that
it can stretch towards
6260 ie it would try
to close the gap.
Lets see tomorrow
how 6200 range reacts
I of the opinion the upmove is corrective in nature,Above 6260 only i would
consider alternate count.
Regards
Rish
Nifty continues to move up after small abc ,Its entering
the gap area and also the important retracement zone of 61.8%
and 78.6% ,Usually nifty reacts to this range before reversing.
Lets look at the chart.
So nifty should
resist 6190-6200
range above that
it can stretch towards
6260 ie it would try
to close the gap.
Lets see tomorrow
how 6200 range reacts
I of the opinion the upmove is corrective in nature,Above 6260 only i would
consider alternate count.
Regards
Rish
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