Tuesday, August 25, 2015

NIFTY - HEAD & SHOULDER BREAKDOWN

Hi Friends,

In my last post I mentioned about Head & Shoulder Pattern. After the bounce to 8655 Nifty started declining. This is a channelized decline. It seems to be a complex correction in WXY.
NIFTY
Currently Nifty seems to be declining in 'a' wave of Y of the complex correction; which is further subdivided. Nifty broke below the neckline around 7960 and sustaining below it. Current decline may further continue till 7630-7540. After which Nifty may try to retest neckline around 7960-7990. Sustaining below the neckline may further open downside to 7230-7160.

 
Thanks & Regards,

Harsh Dixit.

2 comments:

Unknown said...

INDIAN EQUITY BENCHMARKS gained more than 2 percent on Thursday, heading for their biggest daily gains in two weeks, as upbeat global equity markets sparked a wave of bargain-hunting ahead of the expiry of derivative contracts at the end of the session. The S&P BSE Sensex and CNX Nifty ended 2.01%-2.02% higher each.
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Unknown said...

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