Monday, June 16, 2014

Nifty correcting towards support

Hi friends,
                   Nifty after few days sideways move went below the sideways ranfe on friday
it tested 7550 and closed below that ,Lets see the present structure of nifty.
Let me put the latest chart.
Nifty correcting towards support Looking at the chart we can see
a=c ie 7550 range has been broken 
so idealy nifty would target 7500 
level now ,ie c=1.6(a) which coincides
with gap filling also ,It would be early
to say if correction would be over
at 7500 or it would stretch we would
see how nifty reacts there.



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