Nifty today opened flat and rallied to 11600 levels, giving minor pullbacks in between ... On closer analysis of the wave patterns, it appears that Wave B of the correction is far from over ... Nifty by closing appears to have taken resistance at 11620 levels ... Next immediate resistance would be 11670-11680 levels and same has been marked on chart ... For tomorrow/ day after tomorrow, expecting a minor correction as part of lower degree wave (b) of higher degree Wave B ... Support zones have been marked on chart.. However not expecting the correction to go beyond 11470-11460 levels ... Considering past few expiry days, expecting more of sideways movement towards bearish side ... The view stands negated if Nifty manages to break resistance zone of 11670-11680.
Note - Views are personal and meant for educational purpose only, not for trading any instrument
Note - Views are personal and meant for educational purpose only, not for trading any instrument