Nifty Spot EOD Chart 25th Feb, 2014

Nifty has indeed formed a complex pattern. Whereas the b-leg of the probable diametric ended with a limiting contracting triangle and left the option for prices to travel back to it apex area at about 8150-8250 zone and it has also ended the e-leg of the probable diametric with an ending triangle leaving scope for maximum retracement upto 8560 level!!  Now the labellings may have to be corrected down the line other than the triangles but the scope for prices is wide open as there is a significant event round the corner.