Wednesday, March 16, 2016

NIFTY - START OF BULL OR JUST BEAR RALLY??

Hi Friends,

In my previous post I mentioned about possible Rise in Nifty to 7427 or Higher. As mentioned Nifty bounced sharply to 7584.
NIFTY
After testing 7584 Nifty formed Doji candlestick pattern and there is Negative Divergence on RSI; which is a Indication of Reversal. Nifty seem to have formed a Short Term Top and a much awaited Dip looks on cards.

The current Rise in Nifty might be Wave 1 of New Bull Market or just a part of 'X' Wave of the year long Bear Market. If Bulls fail to protect 7406 Nifty may decline to 7295 or 7205 in Wave 2/b. 

For detailed Analysis please follow below link

http://trend-o-nomics.blogspot.in/2016/03/nifty-ew-analysis.html


Thanks & Regards,

Harsh Dixit.

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