Wednesday, March 7, 2018

Nifty Support at 10040-70 level

Nifty Support at 10040-70 level (previous consolidated area).
https://niftytechblog.wordpress.com/

Posted on 3rd Feb...............

Now it seems wave (3) is complete and wave (4) is in progress.Upper trend line shown in last post is now broken from top and closing also below that. In technical term this can be said as falling from roof. RSI divergence in weekly chart.
Today I am showing 2 charts – daily and weekly to identify support area.
In daily, I have drawn 3 horizontal line (RED color) for possible support. This is at around 10500, 10150 and 9700. For now we’ll keep this as wave (4) target.
In Weekly also 9700-9800 coincides with trend-line support.
Expect 3-4 months of correction.
Refer below link for details
https://niftytechblog.wordpress.com/


Nifty support

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