Nifty did same action as i told before in weekly chart of nifty ( sell near 10280 tgt. near 10130-150 levels). And told in this charts nifty should bounce from this levels and it did it.
This current chart pattern indicates decisive for further trends for nifty. we should keep watch in between 10150-10300 ( breaks either levels for further trends)
Weekly RSI- RSI is trading below the support line as i shown in chart and this time the support is automatically convert in resistance zone = selling ahead.
Selling== if we fall below the 10150 levels then we could see 9800-9850 levels very soon
Buying == if we breaks above the 10300 levels again then we could see 10600-10700 levels very soon.
we should take action according to trend decisive .
According to EW- if this trend is C wave of 4th wave then we could see near 9600-9700 levels
If not then 3rd wave will be completed near 9700 levels according to ABCDE wave method for 3rd wave then we could see
selling pressure
My felling says-- NIFTY should down till 9700 but Technical analysis says that don't judge , ALWAYS WALK WITH MARKET TREND
This current chart pattern indicates decisive for further trends for nifty. we should keep watch in between 10150-10300 ( breaks either levels for further trends)
Weekly RSI- RSI is trading below the support line as i shown in chart and this time the support is automatically convert in resistance zone = selling ahead.
Selling== if we fall below the 10150 levels then we could see 9800-9850 levels very soon
Buying == if we breaks above the 10300 levels again then we could see 10600-10700 levels very soon.
we should take action according to trend decisive .
According to EW- if this trend is C wave of 4th wave then we could see near 9600-9700 levels
If not then 3rd wave will be completed near 9700 levels according to ABCDE wave method for 3rd wave then we could see
selling pressure
My felling says-- NIFTY should down till 9700 but Technical analysis says that don't judge , ALWAYS WALK WITH MARKET TREND
