what is that 75 points.. markets is contracting after last friday. But still 140-150 point move is happening everyday.. Nifty might test 10160 which is last week close. then on futures it might test 10210 which was the weighted avg on friday... on finally 61.8% to last leg fall is 10273.. if it crosses that then it is the ending triangle.. let us watch next 2 days...
ranjanmazumder
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Yesterday @ bottom – Bearish Bat formation and market reversed after creating double bottom. Today Market open at “D” point of Bearish bat and retrace 61.8% of CD wave and start bouncing back again. RSI playing around 50 level (30min Chart). I am expecting a Bullish Gartley formation “BC” leg which is expecting to touch middle line of main bearish channel (Pink line). It this formation creates then we can expect 11135 level tomorrow (Nifty Spot). Again it will followed with retracement CD leg to bottom of yellow channel to 10960 (Nifty Spot). Presently spot is 11047.