Monday 19 March 2012
Positional Nifty View for 19 Mar 2012
CMP Nifty - 5317.90 Support 5290 / 5270 / 5240. Positional Target - 5810 - 5840.
Nifty has immediate support @5290 but it may tried to fill the Gap created on 9 March and will have major support @5240.
Since the Nifty is in the EW 5th wave, so it may not break the 4t wave low of 5171 which also act as major support. If this breaks then we will see sharp down rally.
We hopes that Nifty will take U turns once the GAP filled from 5240 and positional target will be 5810-5840 which is the same target for 5 wave as per Eillott wave and inverted H& S pattern which will get form once the nifty will take reverse turn today or tommarrow.
Nifty has immediate support @5290 but it may tried to fill the Gap created on 9 March and will have major support @5240.
Since the Nifty is in the EW 5th wave, so it may not break the 4t wave low of 5171 which also act as major support. If this breaks then we will see sharp down rally.
We hopes that Nifty will take U turns once the GAP filled from 5240 and positional target will be 5810-5840 which is the same target for 5 wave as per Eillott wave and inverted H& S pattern which will get form once the nifty will take reverse turn today or tommarrow.
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