Friday, March 5, 2010

RIL: Once again, HnS or Falling Wedge

RIL is making a HnS and a Falling Wedge.
Refer chart for comments:
Corrections on Chart time frame, its 10 min chart, with moving average negative crossover.
HnS  in place and Falling  Wedge






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5 comments:

optiontiger said...
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optiontiger said...
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Anonymous said...

Sir in which wave... are we in nifty ???? are in any baby wave or big wave.. let it to be either up or down. ????

RAHUL said...

Vivek as per my count the wave 2 should not go beyond 5190...but when i look at the volumes i mean OBV especially people are really not giving up...subwave 1 i.e. wave2.c.1 went from 4798 to 4915 and now we are witnessing the 2.c.5 it should also be equal to 117pts what say?

Vivek Marne said...

@rahul; wave 2 cannot be restricted to 5190 or 5200, yes as per me as well, wave 2 should reach a target of 5200.. But, as u r aware wave 2 can retrace even 90% of wave 1, so in fact anything upto 5300 is good as wave 2 for now, u can have alternate counts as well.. but for now preferred count suggest wave 2