Nifty having 8426 risistance support 8307

NSE:NIFTY   Nifty 50 Index
Nifty is trading in a hourly channel
having resistance 8426 and support 8307.
on breaking 8426 it can show higher levels 8600
Comment: i have to change the wave count, i will do it later.
Comment: probably coming for a target 8340
Comment: read 8540
Comment: I was not confident about the breakout and move toward 8600,
But it happened very fast, where as the expected swift fall didit take place,
the reason as i mention earlier that we were in wave 3 and the down move towards 8350 was wave 4 correction. Wave 3 can be of any length, it was so confusing.
Now we are in wave 5 of the swing started from 7894 with too many inner waves.

The structure has got major changes in higher degree, as the price has moved above the 8598 level.will make a study in the weekend.


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