Monday, April 21, 2014

Nifty wave analysis

Hi friends,
                    In my last post nifty breaks 6700 ,I expected a retest of 6600 once 6700 was broken
But it reversed from 6665 and went on to make a new high again.
I have adjusted the count a bit to accommodate this rise from 6665.
Lets see the chart.
Nifty wave analysis
the chart is self explanatory
the yellow abc in which c
got truncated and after that
truncation we saw a big rally
which usually happens after
a truncation.The rally is
resolved into 12345 where
the 5th is going on accoding
to parallel channel the resistance
comes near 6850-80 levels

I was able to zero in on this count because midcap indices this was seen clearly but in Nifty it
was not clear ,Lets see how nifty performs tomorrow


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