Friday, March 07, 2014

Nifty all time high

Hi friends,
                  In my last post i had mentioned about the impulsive move in NIFTY.
The impulse made sure nifty went on and breached the slanting trendline
and even scaled a new high.
Lets look at the chart structure.
Nifty all time high
From the chart its seen the nifty
has breached passed trendline
The red counts suggest modest
rise in coming weeks.The green
count shows a much bullish
picture which assumes nifty
has started a wave 3 rally.
As of now in any case we should
target 6600-6720.
Inbetween any correction would
be bought into.

This the bigger picture.For short term picture keep stoploss for longs at trendline breakout
ie 6300 for any buy in dips.


yagnesh said...

Hi I had made an attempt to counting wave from real long term perspective
can you provide something on such timeline.

Rish said...

Hi Yagnesh ,Wave three count is the one i also have for a super bullish count ,We need to see how nifty does next week to see what strength nifty really has to take wave 3 count seriously.

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