Monday, February 16, 2015

Support @ 8766 & 8735

Dear All,

>>> Nifty Hourly Chart <<<

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

Above Chart reveals how Moving Average Cross Over helping the Bulls. As per EW markings, Current upmove started as 1-5 from 8470 and currently price moving down as corrective phase for wave (iv), support should be at 8766 and 8735. Once the (iv)th sub wave get completes the upmove should resume once again. Just remain Long till then.

>>> RCOM <<<

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

We are Long in Rcom since 71. Price closed today @ 75. As shown on above chart, If price breaks the Trend line - Fresh Short Covering and Rally to come in. RSI already in a Break Out Mode. Just Buy Buy and Buy. Cheers!!!