Wednesday, July 18, 2012

Break Out from Falling Wedge??

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Nifty touched 5169.3 intraday Low - exactly the bottom of the Falling wedge and gave a break out from the falling wedge, touched intraday high of of 5222.65.

Now I mark this upmove or break out as sw(4) as it did not overlapped my count of sw(1) and also it retraced exactly 50% of sw(3).

Now todays high 5222.65 is very important, if breaks this high then count becomes invalid and upmove may continue.

Else may fall up to 5154 / 5133 and 5110 for sw(5).

Lets see. Cheers!!!