Tuesday, May 13, 2014

How to trade Nifty after exit polls

Hi friends,
                 In my old post i mentioned about nifty resting or consolidating
after steep run,My expectation for a bottom was around 6600 levels nifty 
reversed from little above that.
Lets see the present picture.
How to trade Nifty after exit polls
From the picture ,It can be seen
i have marked 2 counts yellow
and green .
The green one is quite bullish count
which suggests extension and we 
are in 3rd of 3,This count portrays
a very bullish picture in coming months.
The Yellow count is abcde and right now e is on,Some observations from 
this count c=1.61a(almost) and right 

now even e is exactly equal to a ,Interesting indeed ,The point is nifty is right now hovering in an important
area 50-100 points here and there is ok but if we don't cross this range of (7000-7200) we should be in for
a consolidation which can turn into a good steep profit booking below 6700.In a bull case 6700 would be held that,s where the big support lies for the recent rally.
Track these levels closely and we see where nifty heads post 16th!!.



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