Tuesday, January 20, 2015

Resistance @ 8707. Support @ 8595,8528 & 8472

Dear All,

>>> Nifty Daily Chart <<<

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

After breaking 8550 - entire pattern changed. As shown on above daily chart, Price may move towards upper channel. Lets see detail on hourly chart too.

>>> Nifty Hourly Chart <<<

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

Above chart shows - Price has completed Wave (c) or (iii) as resisted @ 8707. If unable to cross may see a correction till 8595, 8528 and 8472. A correction is a buying opportunity and my move towards the upper channel as shown on above daily chart. Cheers!!!