Wednesday, June 13, 2012

Bulls are not Safe Now?



As Wrote Yesterday Nifty Spot did not break 5090 - made a low of 5095 and moved up and breaks the Key resistance 5124. Now the Important question is where are We?

I have changed my Counts today - as Nifty broken the Key Resistance 5124.

As per the attached chart - it seems Nifty have completed sw-4 (as key 5124 has been taken out today) and sw-5 is running. As per chart - sw(5) also nearing an end as 1-5 marked on 5th has been nearing an End.

Tomorrow if Nifty breaks the Trend Line as given on Chart - Nifty may Invite Sell off - Key Support @ 5095 / 5056 & 5000.
Key Resistance @ 5150 / 5190 & 5232.
If Nifty able to Break above 5150 may test rest of the Resistance Levels as the 5th wave can get Extended further.
Cheers!!!