Thursday, May 14, 2009

Nifty


Nifty hourly chart is also showing head and shoulder pattern with neckline @3581 and target of 3312.

3 comments:

  1. Renuji,
    Nifty , today, intra-day breached 3581 but closed above 3581. Kindly clarify whether breaching of 3581 on closing basis shall signifty breach of neckline?
    Thanks.
    ttthakur

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  2. Renuji,
    Do you track rupee dollar exchange rate in elliot waves? If so, can you post elliot wave chart of the same , monthly or yearly basis.
    Thanks
    ttthakur

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  3. hi...ttthakur,

    nifty's head and shoulder pattern is still valid,as you could see that neckine is inclining upward as of now nifty has closed below necline which stands at 3601 ,even if nifty closes above necline the pattern remain valid until nifty goes above 3710 which is top of right shoulder.

    with regard to your second question,sorry i dont track it.

    Renu

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