nifty analysis
There is ONE thing I just noticed On the NIFTY chart........ We have crossed BACK INSIDE the UPPER TREND LINE.
1.The retracement of 23.6% MUST hold at any cost for now, else we will move Lower.
2. It is difficult to pinpoint how much Lower this wave can go down to as it has NOT FORMED a COMPLETE WAVE yet.
3. The ONLT TOOL we really have at our disposal is the Retracement from highs, and almost nothing else.
4. Should we break below the KEY 23.6% retracement mark, there will be some amount of TROUBLE in the markets. The Market will virtually again become a SELL on RISE kind of a market.
5. Fiis have again become Nett Equity sellers...... They sold 3060 crs yesterday, the Highest in some 3-4 months. However, such heavy buying/selling USUALLY takes place 1-2 days before a WAVE TOP/BOTTOM>
1.The retracement of 23.6% MUST hold at any cost for now, else we will move Lower.
2. It is difficult to pinpoint how much Lower this wave can go down to as it has NOT FORMED a COMPLETE WAVE yet.
3. The ONLT TOOL we really have at our disposal is the Retracement from highs, and almost nothing else.
4. Should we break below the KEY 23.6% retracement mark, there will be some amount of TROUBLE in the markets. The Market will virtually again become a SELL on RISE kind of a market.
5. Fiis have again become Nett Equity sellers...... They sold 3060 crs yesterday, the Highest in some 3-4 months. However, such heavy buying/selling USUALLY takes place 1-2 days before a WAVE TOP/BOTTOM>
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