Thursday, July 8, 2010

Nifty Intraday Update: 8th Jul 2010

Nifty Intraday Update:

Still maintain the bearish perspective on Nifty. Nifty has made a high of 5339.50. Seems nifty may now have completed wavce 2 high. I donot wish to move to alternate scenario.

Possible Wolfe wave in structure in wave c of wav 2. The wave 2 has retraced near 80%. I am now tired of such deep retracements. If this break down, lets see future. For a wolfe wave based target, nifty has 5200 on cards SL 5355.

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