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Wednesday, April 25, 2012

Enough is Enough !!!


Nifty seems to have completed Double zigzag now. Second Part marked inside Square seems to have completed 3-3-5 Flat Correction which took support at 5161. Tomorrow Resistance @ 5211 & 5235.

3 comments:

  1. Hi Venkatesh, good job on the blog. I'm no expert.....but maybe this entire fall is a very simple formation, where B ended at 5135 with a simple abc. Then we went up in C(i) to 5380 odd. Since then, we have been in the abc of C(ii). What do you think?

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    Replies
    1. Hi, Simple or ZigZag should be in the form of 5-3-5 whereas here in this double zigzag is 3-3-3-x-3-3-5. Usually double zigzag will make such formations. In your case as u have mentioned B ended @ 5135 means which part you have taken as A?? If you have taken the rise form 4531 to 5630 as A and a fall upto 5136 as B then also its wrong, because B should retrace upto 61.8% atleast. Hope you got the answer

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  2. B can retrace just 38.2%.....isn't it?

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