As per this chart,
Resistance: 9112
Support Zone 6341-4534.
Retracement Levels: 8033, 7362 (normal target done here.), 6821, 6285, 5879, 5614/5535, 4534 (100%).
As per the above chart, Nifty is making complex correction and as per my view, I expect this to be a w-y-z pattern.
So, as per my view, we will completing this correction as normal abc of Y pattern.
If so, I expect to see 5 waves in wave c which may end up as ending digonal.
Targets expected: 7237/7199, 7024, 6821, 6748, 6341, 6285.
If we reach 6285-5879(watchable area.) Mostly won't.
Thanks,
Arockia.
Read Disclaimer before any trading decisions. This can be used for study purpose.
Resistance: 9112
Support Zone 6341-4534.
Retracement Levels: 8033, 7362 (normal target done here.), 6821, 6285, 5879, 5614/5535, 4534 (100%).
As per the above chart, Nifty is making complex correction and as per my view, I expect this to be a w-y-z pattern.
So, as per my view, we will completing this correction as normal abc of Y pattern.
If so, I expect to see 5 waves in wave c which may end up as ending digonal.
Targets expected: 7237/7199, 7024, 6821, 6748, 6341, 6285.
If we reach 6285-5879(watchable area.) Mostly won't.
Thanks,
Arockia.
Read Disclaimer before any trading decisions. This can be used for study purpose.
