nifty short term view

Jun 19, 2017

Nifty has been seeing a corrective decline, within the parallel channel from last 10 trading session, we can observe currently it has hit and crossed upper end of channel slightly. but the decline from lows has been 3 wave. Also we are not getting follow through buying ...which normally happens when we make channel break out. Hence i feel, nifty would still remain within the channel and probably. move to lower end of channel again.

I wouldn't short though , but will wait for lower levels to come again to go long.

Jun 19, 2017

Note

Correction - read it as " but therise from lows has been 3 waves"

Jun 19, 2017

Note

After consolidating at channel, we have broken above the channel. For now low is in place. declines should be bought stop loss 9565

Jun 19, 2017

Note

Earlier resistance will now become support ie 9620-40 levels. This area should be consider as support now.