Wednesday, October 03, 2012

Nifty - Is this Last Leg or Beginning ???

Dear All,

>Click the chart to see in full screen <

Usually its very difficult to trade on Extended Wave Pattern. Market usually move in a choppy and volatile manner. Right to say hard to trade and Stop Loss to hit on either side.

Thank god, we are able to make some reasonable profit, even though we had some stop loss also.

Here in Nifty it seems to be on Last leg of upmove, means an interim correction is set to go. As I mean to say that 3rd or C wave is set to complete and may correct.

It should be noted that even though there is a Negative Divergence on chart, there is no Valid Sell Signal, means possible of extension is also more which choppy trade in coming days too.


>Click the chart to see in full screen <

Bank Nifty consolidating inside a Box after completing 1-5 seems to be fishy, a break out on either side to decide the trend.

Lets See. Cheers!!!