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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

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  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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