Daily Chart
The anticipated rally fueled with spontaneous move of +132.45 to 8255 (fut) NIFTY. The update on NIFTY path ahead using daily chart Wave C of 4 forming triangular pattern.
After biggest fall in 65 months of 250+ points, yesterday NIFTY consolidated and again today gaped up closing strong with 132 points. Its hard to trade and change direction in these kind of volatile markets. But combination of Elliot Wave Analysis, Fibonacci clusters, Pattern analysis & other indicators can guide us almost precisely to predict the swings in volatile markets. The key support and resistance levels to watch out for:
R - 8293/8340
S - 8192/8096
What can be next move ahead ? Either way breakout can give a big move ahead ....
Warning: This is just an educational view. Consult your personal financial adviser before committing any capital.
Raju V Angadi
Equity Research Analyst
To Learn simplified objective approach applying basic concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense to optimize your investment and trading decisions contact on:
rvangadi@googlemail.com (OR) +91 78291 55900
To swing your fortune higher join us and be ahead to track market turns ....
Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets
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