Nifty at a very critical juncture, if I look at Nifty through my analysis. In almost 10 years in markets I have learnt one thing, that you cannot take your knowledge very seriously. So if we just look at the chart of Nifty without any markings and drawings on it, it does not look much different.
So through my analysis, we can see we are just about to complete a zigzag correction and are very near the upper channel boundary. The range of 4860 - 4880 is very critical. If we break out from this level with a bang we will have to reconsider our count, else we are still within the boundaries of my count of wave (4) within an Ending Diagonal.
hi aniruddha..
ReplyDeleteMost probably we have topped out today.
Doji in sensex and spinning top in nifty if tommorow there will be gap down and market will end negative then there will be evening star confirming the top...
as per EWP there is some fast fall in chart and then consolidation showing some imupulsive moves towards downside. RSI is also showing negative divergences in 1 hr. chart.
Hope this is top and we may start another and final leg of correction in nifty whats ur opinion....
@abhinav you have connected the dots well, nice observation!
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