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Friday, May 16, 2014

nifty ascending triangle breakout update

1st resistance was at 7560ns levels

ns has done high of 7563 so far

also last upmove was of 534 pts from 6638 to 7172

adding 534 to 7080 then next trgts comes near 7614

my guess this rally may end near 7640 levels on monday(next week) and then markets may go into some range bound mode for 350 points

next trigger will be union budget for trgts 8150

6340-4530=1810PTS 

6340+1810=8150

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