Thursday, January 05, 2017

Key Resistance @ 8280 & 8320

Dear All,

>>> Nifty 5 Mins Chart <<<

>>> Click the chart to see on full screen <<<

Price moved as 1-5 and last wave 5 have almost retraced 127.2% of wave 1-3. Now 8280 act as a key resistance - if crosses may test 8320 on the upper side.

>>> Nifty 5 Mins chart <<<


>>> Click the chart to see on full screen <<<

Last leg of wave - elaborated here - ABCDE - Today's gap Up opening and followed by Price resisted at channel top or near 8280 should be considered. Cross abvoe 8280 may test 8320. Else a Possible Correction may start any time. Let's wait for the weekend trade. Cheers!!!