Wednesday, March 26, 2014

Nifty displays some divergences but moves higher..."holds" higher..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices are trending up, held the critical support of 50% of last rise at open(6483 to 6592), considering the nature of this 5th wave. Next segment of upmove should hold 6574 and the critical retrace from there on.
Break below 6574 would continue the correction and could lead to ST reversal.
After completing "iii"rd wave, the "iv" is likely to be prolonged and could take the shape of either a zigzag or a triangle to be followed by the "v"th of 5th in the coming days..