Thursday, April 25, 2013

Rally May give a PAUSE ????

Dear All,

Market Rallied ahead of Expiry and hope of Rate Cut by RBI in the upcoming Policy meet. My Earlier Update on IHS failed. Now Lets see whats next...

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Nifty Completed Wave A. Caution advised as Wave B may get start any time. Lets also see a bit close on 15 mins chart as where shall be the Bear Entry Possible.

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Nifty Support 5854, marked with Red Arrow, if trades below that may be the sign for weakness and sell off may start in. Or even if trades below the lower channel may give weakness too. Support 5854 and 5842. If Continue to trade above the channel may continue the rally for some more time also. Lets See.

>> JP Associates <<

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Jp Associates - Upmove seems like a corrective one as I marked it as a-b-c, facing a major hurdle at golden ration 38.2% or 79.2. Resistance 79.2 and 78.6 not taken out means, fall unavoidable. Lets See.