Monday, January 19, 2015

Happy Bulls Vs Sad Bears - Testing our Patience.

Dear All,

>>> Nifty Hourly Chart <<<

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

Entire day remained above the trend line. 8570 high made a closed near 8550 resistance. RSI was not moving with price, hence confusion on bulls side.

>>> Bank Nifty Hourly Chart <<<

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

Bank Nifty - trading inside the wedge like pattern. We need confirmation for any further move.

>>> CANBK <<<

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

Again a Rising wedge pattern. Its a corrective upmove as A-B-C. Wave C completed 100% of Wave A @ 468. Get ready for a correction if unable to cross above the wedge with a good strength. We are on short side. Lets Wait and see how it works. Cheers!!!