Nifty seems to be forming a triangle/wedge from the bottom of 7350.80 to the recent high of 7510.95.
Of this the final leg which started from 7450 in itself is again a wedge. This seems to have completed its a-b-c-d. Now the final 'e' seems to be pending. once it crosses the height 7510.95 this will be completed. Then on the break of 7486.90 a short might be rewarding. This will give approximately 100 points move.
Of this the final leg which started from 7450 in itself is again a wedge. This seems to have completed its a-b-c-d. Now the final 'e' seems to be pending. once it crosses the height 7510.95 this will be completed. Then on the break of 7486.90 a short might be rewarding. This will give approximately 100 points move.
Nifty made a high above 7510 @ 7512.55 and then started the downward move. It broke the rising trend line and swiftly moved down more than 100 points.
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