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Nifty Technically

In my last post I mentioned about Head & Shoulder Pattern. After the bounce to 8655 Nifty started declining. This is a channelized decline. It seems to be a complex correction in WXY
Currently Nifty seems to be declining in 'a' wave of Y of the complex correction; which is further subdivided. Nifty broke below the neckline around 7960 and sustaining below it. Current decline may further continue till 7630-7540. After which Nifty may try to retest neckline around 7960-7990. Sustaining below the neckline may further open downside to 7230-7160.

Comments

  1. Abhikhos274 September 2015 at 05:04

    7650 and counting . The slide shall not be one way . there can be rallies but these rallies shall be used to lighten the position or sold into until 8200 and 8650 is taken out decisively

    ReplyDelete
  2. Abhikhos274 September 2015 at 05:05

    7650 and counting . The slide shall not be one way . there can be rallies but these rallies shall be used to lighten the position or sold into until 8200 and 8650 is taken out decisively

    ReplyDelete

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