HI Friends a happy navratras to all...the above chart is 15 min candle chart...nifty gave an initial indication of bottoming out but failed to confirm the upmove...that is why i stopped every one on board from going long...now we have got two confirmed resistance lines shown in red on the chart....
- looking at the daily charts..we r in confirm corrective wave from 4720 levels..and this is a typical formation a very feeble triangle...in such wave formations the prices keep moving in this pattern for a long time till clarity is emerged on either side...
- For today expect the gap shown in the chart to be filled..then a small move further down towards 4820-30 zone(being a fibo retracement zone)... and then look for the breach of red line shown in 15 min chart to go long ...good luck guys
HI Friends a happy navratras to all...the above chart is 15 min candle chart...nifty gave an initial indication of bottoming out but failed to confirm the upmove...that is why i stopped every one on board from going long...now we have got two confirmed resistance lines shown in red on the chart....
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