A strong rally likely
Nifty CMP 23214
Fib- the Index as of now has taken the fib support at 23070. In my view this should hold.
RSI- the oscillator is taking the bull support at price support. Hence this is positive.
Elliott- the C wave rally in this counter should happen from here. This should take the Index back to 24800. That zone is also the neckline of the head and shoulders pattern.
Conclusion- Since the C wave rally is the sharpest, this rally should happen very fast. Take this rally as an opportunity to book profits.
Fib- the Index as of now has taken the fib support at 23070. In my view this should hold.
RSI- the oscillator is taking the bull support at price support. Hence this is positive.
Elliott- the C wave rally in this counter should happen from here. This should take the Index back to 24800. That zone is also the neckline of the head and shoulders pattern.
Conclusion- Since the C wave rally is the sharpest, this rally should happen very fast. Take this rally as an opportunity to book profits.
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