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Monday, January 26, 2015

nifty views

on tuesday nifty has immed support at 8313-8793 range

below 8700 will exit longs once

below 8700 support at 8576-8445

from 8445 to 8866 nifty is moving approx 30 pts per day

so res of t/l joining these pts may be near 8896-8926 range on tuesday.
8926-56 range on wednesday

this upmove has trgts near 8990 near levels(will it come this week?? if has to come then may come on thursday eod or friday open)

my expectation of expiry may be abv 8900

possibly may take 8917-87XX-8990 path


also if considering movr from 8453 will be a five wave move to complete a larger wave then fractals indicating a 118 pt move(1st was 118 pt move from 8453-8571) from 8797 may trgt 8915(shd sustain abv 8867(terminated 5th)) 

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