>Nifty pre market 7th may

Hi friends,
                     Yesterday nifty squeeze continued for full session now the range has reduced
looking at the whole structure the following wave count could be a possibility if we sustain above

6010 ,Below 5930 nifty would be negative and can target 5800.If both levels hold we continue to be in a small range.

happy trading.!!

>Nifty intrday 6th may

Nifty is getting squeezed as shown in the chart below with lower tops
trend line breaks would produce fast move down..

>Nifty premarket 6th may

Hi friends,
                  In my previous post i had mentioned 5980-6000 level for nifty top for the current upmove
nifty managed to cross 6000 for a brief period of time and fell back i reckon a top is in place .
A sideway move to test the top again is a possibility as shown from the hourly chart.

The more the time nifty spends here it would make me think its some sort of corrective wave up
rather than an impulse up.
 The below daily chart shows the daily support of nifty its likely to test 5800 where the support comes
the exhaustion is seen in nifty ,Lastly we have seen sectors are not moving in unison so expecting
a clear trending move would be futile.

Trade wisely!!

>USDINR analysis

Hi Friends,
                   In my last post about usdinr had mentioned about a fall towards 53.50 today we
did 53.63.Here the risk reward for a long trade looks favorable .
last post USDINR wave structure would be invalid if  the usdinr goes below 52.80

Tomorrow being rbi policy day volatility would be young.
trade wisely