Monday, 20 April 2015

Possibilities and WW : 20 April 2015

I will again be brief.  8570-8560 and 8525-8500 seem to be levels of significance for the time being.  On the higher side, 8640-8650 needs to be recaptured by bulls soon.  Mathematically, a close below 8565 should come to complete the pattern in the short term.  For indicating a significant change of trend to bullishness, a close above 8780 today would be essential.  The chart below shows a WW in red, which though seems to be headed for 8K, it may not be reached in a straight line and may follow the path shown in blue.  The chart also shows two APFs and some TLs of significance in green color.


Readers may also recollect that today is a day of low, which may come around 1430-1500 and may see Nifty dipping towards 8570/8525.  All the best.

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