Nifty was in sideways movement this week.
With closing at 5950 on friday shows a support on weekly as well as daily basis.
If nifty closes below 5950 then it is indicated that the top of sub wave 5 was 6042.
As it was posted in previous post.
http://rmarketlearner.blogspot.in/2013/01/nifty-elliott-wave.html
Hourly chart still show some support as MACD and RSI are in oversold area.
If nifty sustain the level of 5950 then one can see more upside.
Resistance at descending trendline.
Regards
Rinkesh Jain
hi rinkesh...i got you from ananth acharya twitter profile..just wanted to know that have you done EW workshop from him?.. coz i am planing to do that's why i am asking it...thanks
ReplyDeleteNo i haven't done workshop from him.
Deleteohk...so can u suggest me someone whom do u know who teaches EW or can u suggest me to do workshop from ananth acharya?
Deletei haven't learn from anyone... so i can suggest u which one should u go for. There is book "The Elliott Wave Principle By Robert Prechter " This will help u.
Delete