Waves Strategy Advisors: The Financial Edge Interim update
1:00 pm
Bottom Line: Nifty has failed to sustain above 5135 levels. It has broken below 200 days MA and individual stocks are looking very weak. Also trend looks gathering strength on downside. Please cover your long positions and wait for break above 5250 to re-initiate. Short positions can keep 5190 as stop on Nifty...
1:00 pm
Bottom Line: Nifty has failed to sustain above 5135 levels. It has broken below 200 days MA and individual stocks are looking very weak. Also trend looks gathering strength on downside. Please cover your long positions and wait for break above 5250 to re-initiate. Short positions can keep 5190 as stop on Nifty...
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Hello Ashish,
ReplyDeleteNifty closed below 200 DMA and 20&40 WMA also.
What is the down target can we expect as per EW?
Regards
Raj
Now the support lies at 5050 and below that 4900. I do not think we are headed below 4900 - 4880 should be it. We should start next leg up from there.
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