The minimum requirement for this corrective pattern to complete is 5135. But if we go by the triangle in wave [b]/[y] interpretation then we may see even lower levels, around 4950 - 4920 range.We have broken the b - d trend line which suggests that the triangle pattern may be completed. watch out for 5100 as critical support.
Thursday, April 26, 2012
Nifty - Elliott Wave Analysis
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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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