BnF has reversed from the .78 fib retracement in a classic channel.
It is all set to touch the support of 25400.
With the last election budget coming up, this doesn't seem far. A massive sell-off is enough.
Nifty index, has formed a bearish correction wave after the completion of the impulse wave that started at the end of the 2008 Crisis, pushing equities higher and higher.
NIFTY looks to make lows at 9800 or even drift lower as time passes.
With elections around the corner, it doesn't seem that impossible either.
SO, keep your positions light and breezy in the...
S&P 500 index is at the verge of a flag breakout on the 15 minutes TF.
Targets are near 2570.
Wait for confirmation by the next candle, and a mostly probable retest of the resistance turned support before entering.