Nifty – Stuck in a range needs some kind of Pattern Formation

nifty

 

Here are 4 Charts of Nifty Showing various Permutation and Combnation of Support and Resstances and probable out come of nifty for next few days.

First 3 are daily charts and last1 is weekly. Currently nifty is in range from 5660 to 5950/70 and now correcting so Informed the best supports it can have.

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Before looking at charts please note this. We are currently in 2nd stage……and Dow is in 3rd stage Euphoria still to begin n dow.

4stages

1

 

2

 

3

 

 

This may be Probable outcome as shown below but confirmation comes only after chart is done so you will have to wait till Tuesday for chart confirmation4

Please note Major support below 5850 is Previous low of FEb 2013 at 5663. and 200 DMA @5585.

Major Resistance at 5950/70. Trendreversal if any is 5950/70.

Major trend reversal below 5885 – 200 DMA.

 

 

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