Friday, March 28, 2014

Nifty reaches 6700

Hi friends,
                   Nifty continued its upward journey,Slowly steadily.
Someone who shorted this market because its over bought must be wondering
what went wrong.
Usually in extreme over bought conditions a 3rd wave or c wave move
can continue.Lets look at the nifty chart structure.
Nifty reaches 6700
From the chart we can see
on lower time frame
the 3rd has done 1.6*(1)
so we have touched  an important
level .Monday we can have
volatility ie 3rd or c wave top
and we can have 4th or d wave
fall i don't expect big fall ,It can
be fast timewise as 2 took lot of time .

Lets see what nifty does on monday accordingly we can place overselves.Overall no shorting
yet we are yet to see any weakness.



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