Wednesday, February 01, 2012

Nifty rising in acceleration channel, wave [3] not yet done !

Nifty Hourly Chart
Nifty may not have finished wave [3] as of yet, as suggested in my post earlier today, we may be in wave (5) instead of [5], so there is some upside left still in this move and it looks like we may be headed for 5400 for sure. Look for wave (5) targets around 5300  5350 levels. Prices are rising in the acceleration channel still, we must break it to form wave [4]. Also spot the ZLR formation on MACD on wave (4), and RSI snapping back from OS levels. Prices may target upper channel boundary for wave (5).


  1. thats perfect now we will reach 5400

  2. Do u get live data in Amibroker ?

    I am using the free version of chart nexus & it only allows EOD candles . Do u know any free software for hrly charting & analysis ??



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