As per Yesterdays Call - Nifty Spot Broken 5352 and fell up to 5297.65.
But can't reach our Target 5269.
Today since Nifty able to Hold 5320 and manage to give a Break out as shown on Chart, it seems we are still in sw(B).
SW(B) is divided as a-b-c and we are in the latter part of sw(c) - means now we must go up - Target should be 5491 which is 61.8% retracement of sw(A) as shown on Chart here.
Also we had a Triangle break out today - as far as this is held - we should move up to the Target with out any problem. More and More Interesting day tomorrow as its a Week end (Friday) and Beginning of a (March month) Financial Year End.
Lets Wait and See!!! Cheers!!!
Venkatesh, You are doing really a wonderful job in enabling us to understand the technicals in simple language. You have the skill to take your thoughts to masses. Pl keep it up.
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