- USDINR looks like it is forming a wave [2] correction of a flat variety. We may see possible tgt zones for wave (c) of [2] around 55.04-55.20.
- RSI has gone flat the the bull zone, which is usually a bullish sign.
- We got a spike down today, now we are consolidating, which means we are forming another flag pattern, and a BO out of it should lead to a tradable move.
- Nifty has a gap at 5868.05-5837.15. It may offer support for a while, but ideally we should test 5800, in wave (2). We cant predict the structure for wave (2) as of yet, but it should be at a minimum a 3 wave move.
- RSI has reached bull zone in a jiffy, it should get some support at the bull zone.
Note: These are short term charts (hourly fractals), if the market changes its gears from bullish to bearish, the count proposed on the chart may change.
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