Nifty H4 & Daily

General Overview for 07/11/2013 

Bullish wave progression is so far intact and more upside is anticipated after wave (ii) green corrective cycle is done.
Targets are on the chart.
Please notice that a breakout to the downside below Key Level of 6067 is much more bearish and it might result with GAP zone test before trend will eventually resume.

Support/Resistance:


6487 – WR1
6367 – Wave (i) High
6282 – Weekly Pivot
6232 – Technical Support
6195 – WS1
6067 – 23%Fibo | Key Level |
5993 – WS2
5909 – WS3

Trading Recomendations:

Sell the top test @ 6367 with TIGH STOP LOSS for a potential TP @ 6067.

Take care,
Seb

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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