Hi friends,
Tomorrow being RBI Policy day all eyes would be on banknifty
35% stake holder in nifty so what ever happen in banknifty it largely affects
nifty as well.
This march month banknifty rose 18%+.Lets see technically what banknifty
looks like right now.
Let me put the wave count chart .
The chart is well labeled
We saw a top in end 2010
followed bt a retest in early
2013,And now almost near
that top .
Now right now we have a
moderate bullish count
and a severe bullish count
active here we could be
forming a triangle which
suggests we dont cross the
high ,we may retest and correct down and break resistance later sometime
The big bull case says we did a leading diagonal from the start of 2012 and ended
at double top in mid 2013 so we could have done 1 or a wave leading diagonal
then we had a severe correction retracing 80% of the rally and now again we are
up and almost knocking the double top resistance.Lets see how banknifty moves
after policy .
Regards
Rish
Tomorrow being RBI Policy day all eyes would be on banknifty
35% stake holder in nifty so what ever happen in banknifty it largely affects
nifty as well.
This march month banknifty rose 18%+.Lets see technically what banknifty
looks like right now.
Let me put the wave count chart .
We saw a top in end 2010
followed bt a retest in early
2013,And now almost near
that top .
Now right now we have a
moderate bullish count
and a severe bullish count
active here we could be
forming a triangle which
suggests we dont cross the
high ,we may retest and correct down and break resistance later sometime
The big bull case says we did a leading diagonal from the start of 2012 and ended
at double top in mid 2013 so we could have done 1 or a wave leading diagonal
then we had a severe correction retracing 80% of the rally and now again we are
up and almost knocking the double top resistance.Lets see how banknifty moves
after policy .
Regards
Rish
No comments:
Post a Comment