Tuesday, January 4, 2011

Nifty Intraday

Nifty preferred calls for possibly a top of wave 2. The first decline in the month of Nov is marked as possibly wave 1 down and this upmove can be typically wave 2, with low volumes, and which is evident in the last price action named as wave C.

Preferred: After this strong run up, there can a profit booking now in NF which can be wave 1 now, and declines can reach 61.8% of the rise which can be 5920 zone. Will watch the price action closely.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

No comments: