18 August 2014 : Nifty weekly analysis for 18 August 2014 to 22 August 2014
Well, big question is - Are we in wave '5'? I can see a
diamond formation which is a characteristic of wave '4'. If this comes true
then 8500 +++ levels are in the race for bulls. That's one prospect.
Other is, if this market fails again before 7841 then this
diamond formation go in favour of bears.
Note that diamond formations are just the indication of 'move
of length comparable to diagonal'. It can go in any direction with possibility
50-50.
Join the conversation