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>Nifty analysis

Hi friends,
The current structure in nifty suggests following few scenario's.

a) A triangle consolidation which possibly suggests a 4th wave underway.

b) A abc flat and now a possible impulse underway.

Lets discuss both scenario's

If a triangle price needs to take a dip to complete e wave of triangle before the breakout or
breakdown.

If no dip seen then it would suggest an impulse underway after abc flatimpulse counts will change according to the spike 5100 would act as stiff resistance
(double top).

This nifty rise would be probably backed by rises in banks and reliance pack IT biggies have
either hit double tops and are retracing the recent fall.

Regards
Rish

PS:-My views are for traders always use sl
RESEARCH REPORTS


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Disclaimer: "It is assuming that all Traders and/or Investors are well known of the fact that Investment are subject to market risk and no responsibility will be taken either by the author or writer of the blog content whether direct, implied or consequential for any losses or profits that may occur as a result of trading with the calls provided in this blog.."