Tuesday, February 18, 2014

Nifty index technical analysis

Hi friends,
                   In my old posts i had mentioned about retest of 6100-6130
So we have tested 6130 today,Look at old post here Nifty structure.
Today nifty tested 6130 and closed above that its hovering in resistance
zone ,If my assumption of wxyxz is true we need to reverse soon from
this range,Lets look at the chart.
Nifty index technical analysis
The green dotted line
is my preferred scenario.
I see nifty to fall from
this range towards 6090
6060 range and rise back to
6130+ to finish abc of z
wave ,Lets see how nifty
performs ,If nifty continues
to rise and heads towards 6190
i would have to change my count

Lets see if nifty follows green dotted line or continues upward journey.



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