March 1, 2016

NIFTY 4 hour chart Analysis

  • The daily chart which is not shown here shows Two Long shadows for candles one at 12th February and for one Yesterday. These two daily candles giving strength for bulls. First bounce from 12th Feb took nifty towards 7252. This bounce is approaching resistance levels. Bulls expecting a Double bottom kind of bounce need price to stay above 7250, The cloud and 38.2% Fib level for an extended up move to happen.

1 comment:

  1. thanks for your view, at present as per Elliott wave new uptrend began, my assumption.