Sunday, March 25, 2012

Any thing Left for Bulls ???

As I said on Last Friday - break below 5172 fall can be there.Refer Friday Post. But today we will find out Is there any way still Open for Bulls, Yes there is!!! as per chart attached above its still sw(5)(2) is on like abc-x-abc-x-abc. Two possibilities in this count. 1) sw(2) is completed and sw(3) started or (c) of (5) is still left. as marked with arrow. If 5330 broken then sw(3) is confirmed up move continuous else a fall to complete (c) and upmove to start as marked with chart. Counts become Negated if Breaks below 5172.

Daily Chart shows there is a Possible Flag formation. 200dma & 38.2% Retracement may give support next week. Bulls should break above the channel for a strong upmove. Lets wait!!!