Nifty continues consolidation today ! Support at 5330 - 5300 !

by Dean Market Profile on Tuesday, February 07, 2012 in Elliott Wave, Indices, Nifty

Yesterday's and today's price action on Nifty is looking corrective. We got a support zone of around 5330 - 5300 range. Below 5300 we may correct deeper towards 5265 - 5235. If we get supported in this band we may see higher highs again in this trend. As per EWP wave {4} is in the making, we might see wave {5} of (5) if we get supported at 5330 - 5300 band.

About Dean Market Profile
Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...

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Tuesday, February 07, 2012

Nifty continues consolidation today ! Support at 5330 - 5300 !

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