Monday, February 20, 2017

>Nifty wave structure

Hi friends
                 Looking at nifty which is still shy of  high made in sept 2016 unlike banknifty which has taken that high convincingly.
Lets look at the daily chart of nifty .
From the chart we can see an important resistance is approaching ie 8925-30 .Bank nifty has taken this resistance already nifty os lagging banknifty this time all because of super heavy weight HDFCBANK rally.Lets look at the rally from sub 7900 levels closely .Let me post hourly chart.
The move is fast with small interrupts inbetween ,From this 8700 is a strong support for now and till thats maintained stock specfic action looks to continue on the upside resistance to look for would be 8925-30.


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