If it is the dreaded 3rd wave, then it should not cross 6020.
If it is a larger 2nd/ b wave, the retracement should restrict to a normal 6015 or 6091.
Beyond 6100, we may consider the possibility of 5th.
In all these cases, we know the short term direction is UP and that is all I take from EW/ TA combo.
Another clue one could find is the retracement to this rise, whenever that materialises: how much it falls and holds will have upside possibilities.
http://tradeinniftyonly.blogspot.com/2010/12/nifty-intraday-update-i.html#comments
No comments:
Post a Comment