nifty will face a resistance on 14256 range and retraces downside for a short time and people may be panic by the retracement and may book profit ,as a result the retracement will be little deeper on down side . but i dnt think FII will book profit instead they keep it on the rally with positive expectation , after retracement again fund will get accumulated that drives nifty again to new highs in the coming month and finally the major correction may happen at 15480 range ( 15% from price action channel breakout on weekly time frame as shown on my chart ). so nifty may touch 14256 on this coming days and get retraces for a short time and then it rally to 15480 begins and it may take 4 months. so expecting a major correction after march last week. Thank you. For educational purpose only.
Kommentera:
My calculation was absolutely right. nifty taking resistance on 14250 range and falling down...