Monday, March 19, 2012

Nifty - Elliott Wave Analysis.

Hourly EW Chart
Nifty did break the 5295 levels, which I had pointed out in my last post. Now the next support comes around 5225 - 5200 levels. Once through 5200 we will head for our final targets around 5080 - 5040 levels. Nifty's behavior should be watched at 5170 levels (bottom of wave [a] ), below this level we technically complete this correction. Shorts should be lightened below 5170.

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