Thursday, January 22, 2015

Nifty Vs ECB

Dear All,

>>> Nifty - 5 Mins Chart <<<

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

After price broken out form 8360 - Nifty kept moving up as shown above chart, inside a channel. Every Resistance has been taken out by a Gap Up Opening. So where is Nifty going. As shown on above chart - Price moving as 1-5 waves. 4th Sub wave ended at 8690 and started its last upmove. Lets See in details how the 5th wave moving on.

>>> Nifty - 5 Mins Chart - Last leg <<<

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

Above is assumed as a last leg of upmove as 1-5. Today 8727 gave support to bulls as shown on above chart. If 8778 or 8792 unable to cross - Assume Bulls are stepping out from Nifty. Caution advised.

>>> CANBK - Follow Up <<<

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

Bearish Raising Wedge ??? We are holding our Shorts. Lets See. Cheers!!!