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padiyara
Jan 24, 2017 3:51 AM

Nifty having 8426 risistance support 8307 

Nifty 50 IndexNSE

Description

Nifty is trading in a hourly channel
having resistance 8426 and support 8307.
on breaking 8426 it can show higher levels 8600

Comment

i have to change the wave count, i will do it later.

Comment

probably coming for a target 8340

Comment

read 8540

Comment

I was not confident about the breakout and move toward 8600,
But it happened very fast, where as the expected swift fall didit take place,
the reason as i mention earlier that we were in wave 3 and the down move towards 8350 was wave 4 correction. Wave 3 can be of any length, it was so confusing.
Now we are in wave 5 of the swing started from 7894 with too many inner waves.

The structure has got major changes in higher degree, as the price has moved above the 8598 level.will make a study in the weekend.
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