Nifty Hull Suit has given sell signal 4 days back. Current upward correction wave B of 4 is more than 61.8%. It may end today; if so, downward correction wave C of 4 will start, which will take Nifty to a much lower level. C of 4 हमेशा सब को रुलाता हैं|
On the other hand, our Share Analysis Software has given the best buy signal to Nifty with a stop-loss of 21777 and a short-term sell-turning price placed at 22147 whereas Nifty yesterday's close was 33368. RSI and MA cross over are still down. So we have to wait for 1 or 2 days to confirm this. If this call stands and Nifty touches the red line of the channel, then it may cross 22900 and the end of 3 of 3 of 1 of 5 counting is wrong. So let us watch for both possibilities.
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Nitin Shripad Joshi
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