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Wednesday, August 31, 2011

Nifty Pullback

The important short term oscillators are all overbought. I don think we have too much gas left in this upmove.
The daily chart below shows that the thick PINK channel line  should be hit and then we move down .

IN the line chart we find that we are able to draw fewer parallel channel lines  satisfactorily. In the chart below , we see that the orange line is certainly one of the the imporatnt line which has come into play a few times before. Thats the maximum i think Nifty will travel . If I draw green dashed line , the level is seen as 5070.

That should complete a of this (iv)th wave.

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