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You are here: Home / Nifty Technicals / Simple 5-3 Elliot Wave Pattern in Nifty Future Hourly Charts

Simple 5-3 Elliot Wave Pattern in Nifty Future Hourly Charts

June 28, 2009 by Rajandran Leave a Comment


 

Chart shows the Simply Elliot Wave pattern in Nifty Future hourly charts with 5-3 Wave pattern.

It is also inferred that a formation of inverse head and shoulders pattern in hourly charts with 
formation of head near 4157 levels and shoulders around 4220 levels offering a next level of targets
at 4429(50% retracement) and 4494(61.8% retracement) as the neckline breaks.

Nifty future is expected to face strong resitance near 4500 zone in coming days

Source:
www.marketcalls.in

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Filed Under: Nifty Technicals

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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