Wednesday, September 24, 2014

Correction may Continue - Buy on Dips.

Dear All,

>>> click the chart to see on full screen <<<

Its really very hard when a correction + rumour + events occur at a same time. Rumours like chinese War like situation + SC verdict on Coal Cancellation + F&O Expiry. As a result Volatile and hence - many might have confused or even frustrated with their trade.

Our support level also not holding for last 2 days. Yesterday given support 8005 and 7990 also broken. So whats next ??

Above chart looks like a Flat Correction with 3-3-5 down move. We are on the C wave - Hence one more upmove for ivth of C wave left followed by a correction towards 7900.

>>> Bank Nifty <<<

>>> click the chart to see on full screen <<<

If the support 36.2% retrace or 15700 doesn't hold then next possible correction till 15700.

>>> Rpower <<<

>>> click the chart to see on full screen <<<

Taken support @ 78.6% golden ratio. Just Buy for a good Upmove from here. Cheers!!!