Thursday, February 20, 2014

Nifty, opening below 6136, confirmed & started a correction..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

After a long, shallow, sideways correction of 25 points, Nifty moved higher to make a high of 6160 from 6136 at the closing hour yesterday.
Below 6136, the sub-dividing iii rd wave gets negated and a retrace for the entire rise is likely.
Below 6136, correction gets confirmed for the entire rise from 5985-6160(1) which would take the prices to 6094 or 6073.
Below 6073, bearish flag(c) start to gain prominence.
Thu & Fri are the days, week trend starts to get active.