Currently it might have entered the a-b-c for 2nd wave. If yes then it may bounce from 4954, however we need to keep in mind that 2nd waves are most devastating ones and may retrace most of the gain made by wave 1.
There are good resistance zones near 5020 - 5050 range. If it opens high then it may get resisted near 5051.40 or 5054.90 range. If surpassed then it may be subdividing 5th wave of 1. As this can be a possibility because wave 1 is already smaller than wave 3.
NIFTY:
Hourly chart analysis:
There are good resistance zones near 5020 - 5050 range. If it opens high then it may get resisted near 5051.40 or 5054.90 range. If surpassed then it may be subdividing 5th wave of 1. As this can be a possibility because wave 1 is already smaller than wave 3.
NIFTY:
Hourly chart analysis:
No comments:
Post a Comment