Nifty triangle count will get confirmation once we break below the low marked by wave (a) on the chart, the level comes around 5160 levels. The stochastic is at overbought levels, and turned down. So if our count is right, then once this corrective move is over, we may see prices continuing down from these levels. Resistance may come at 5280 - 5300 levels. the corrective pattern forming is of the Flat variety, so once this wave {c} of (b) is done, we will see the down move continuing.
Monday, April 30, 2012
Nifty - Elliott Wave Analysis
Tags
# Elliott Wave
# Indices
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...
Nifty
Categories:
Elliott Wave,
Indices,
Nifty
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
...I am thrilled to learn what you think about this piece of content...