Wednesday, March 16, 2016

Wedge . . .with a Divergence.

Hi All,

Nifty did not cross the mentioned level of 7450, and we are still out of the markets.

However, It took support near 7400 levels as expected, and have given 2 +ve signs for the bulls to cheer, a falling wedge breakout on 15 minutes chart and a Candle RSI Divergence on hourly charts.

As a last chance for bulls, risky traders can buy Nifty near 7420-7225 with a small SL below 7400-7380 with targets intact near 7510-7550-7600....


Cheers

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