Tuesday, February 07, 2012

Nifty continues consolidation today ! Support at 5330 - 5300 !

Yesterday's and today's price action on Nifty is looking corrective. We got a support zone of around 5330 - 5300 range. Below 5300 we may correct deeper towards 5265 - 5235.  If we get supported in this band we may see higher highs again in this trend. As per EWP wave {4} is in the making, we might see wave {5} of (5) if we get supported at 5330 - 5300 band.

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