Nifty Monthly charts some observations_FollowUp
On 29-March i posted some observations on Nifty Monthly charts on My FaceBook Page. Link to which is given below
As you can see i clearly mentioned that Nifty if manages to cross 9038 then it can move to 9390-9900. And it exactly did the same and went all the way to 9900.
Now to negate all negatives we need a weekly close above 9970-10550, which is still not happening
My view is that Nifty broke that channel in March and gave a monthly close below that and bounced from those oversold levels. Now if and only if Nifty closes above 10200 on weekly basis, then i will consider it negated all those observations.
On the other side we need a close below 8900 for 2-3 days to confirm our observations, however first targets will be 8200-8000 .Below that we will consider next probabilities.
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