Trading NIFTY is the most favourable script among all the Traders so I will try to explain it's movement with best of my knowledge. This explaination is for educational purpose ONLY.
Expert Technical Analysis Course for Equity & Commodity
Sunday, April 5, 2009
6 April :Something BIG will happen to NIFTY?
Nifty might open on soft note because Asia has made some signs of exhaustion on Friday and if Asia shows weakness then Profit Taking or Shorting may takeover the Bulls for sometimes. But at the end of the day Nifty successfully closes above 3245 then mini bull run will be started which can take nifty to 3575. We have third Gap up Opening on Friday which may be treated as exhaustion gap and it gives sell signal but with strict small stop loss. If Nifty falls approx. 105 points then Wave A B and C will be started and it will drag Nifty to 2750 but to reach this Nifty has to be closed below 2960. Monday is very crucial Day for all Long and Short Positions so place strict small stop loss.
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