Nifty is trading in a hourly channel
having resistance 8426 and support 8307.
on breaking 8426 it can show higher levels 8600
having resistance 8426 and support 8307.
on breaking 8426 it can show higher levels 8600
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i have to change the wave count, i will do it later.
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probably coming for a target 8340
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read 8540
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I was not confident about the breakout and move toward 8600,
But it happened very fast, where as the expected swift fall didit take place,
the reason as i mention earlier that we were in wave 3 and the down move towards 8350 was wave 4 correction. Wave 3 can be of any length, it was so confusing.
Now we are in wave 5 of the swing started from 7894 with too many inner waves.
The structure has got major changes in higher degree, as the price has moved above the 8598 level.will make a study in the weekend.
But it happened very fast, where as the expected swift fall didit take place,
the reason as i mention earlier that we were in wave 3 and the down move towards 8350 was wave 4 correction. Wave 3 can be of any length, it was so confusing.
Now we are in wave 5 of the swing started from 7894 with too many inner waves.
The structure has got major changes in higher degree, as the price has moved above the 8598 level.will make a study in the weekend.