Nifty has risen a five and now correcting. the iird of c-leg will complete in the morning and we will see a pullback for ivth and the last downmove for vth is the likely scenario. Now since the iiird is already extended the vth extension chances are less. But market will show bearishness once again may be in the 2nd half for vth. Chances of reaching 6079 is remote and hence the move is to be considered as corrective only. We can expect a 200 point plus rally from the completion point of this downtrend. Nifty Spot has huge support up-to 6130. So, buying in the morning for 40-50 points rally (Should not exceed 6245 spot) and exiting is advised and buying again towards EOD / Next Monday seeing the structure should be alright.
No comments:
Post a Comment