NIFTY

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.

Nifty took support at the said levels and recovered.It is forming an expanding diagonal triangle (pink) which is the preferred count.If so, expect market to pause/correct after zooming past or being bit short of 8181( shown in pink lines).

The second alternative count is very bullish if it happens which is given in yellow.Wait and watch 8181.

Strong support exists at 7422, even if correction occurs in case diagonal triangle is proved right.

Nifty

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