Sunday, April 27, 2014

Nifty Tests resistance

Hi friends,
                  Had posted in my last on nifty about resistance zone 6850-80
Nifty made a high at 6861 and reversed.
Lets see the nifty chart.
Nifty Tests resistance
We can see from the chart
a expanding triangle like
shape had formed and it reversed from trendline resistance.
According to wave theory
a break below 6700 would
confirm c is finished and d
wave has started.
Track closely nifty if 6700
gives up c we can target 6600-

6580 ie d wave .This is short term top only according to me,Dips would be good to buy
stocks and quality midcap for sudden spurts.
Lets see how nifty performs in coming sessions.



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