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Tuesday, May 10, 2011

Nifty Update

Correction is taking its time as usual. Nifty should drop to 5400 levels but may be Not RIGHT NOW. I see downside Movement to 5470 to hit that blue trend line . And then UP again to may be 5610 to complete this 4th wave.

The current action can be checked in this 15 min chart .

Broken the rising wedge . Had been trying to touch the lower trend line but has failed till now. Strong support at 5525. The last good support at 5503. If that fails 5470 will come.

Wolfe Wave in the 1 minute Chart indicating target 5460 area..


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