Technical Analysis and Research & Market Outlook
Nifty-EOD Chart (28-Oct-2011):-
Conclusions
It is the character that many time correction completes at or near about 61.8% Fibonacci Retracement level and same is visible in above EOD Chart. As Corrective Wave-4 completion and impulsive Wave-5 is beginning confirmation therefore expected that on going Wave-5 will cross all time high strong rally will be seen above all time high as well in the coming months and year(2012).
Nifty-EOD Chart (28-Oct-2011):-
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| Just click on chart for its enlarged view |
It is the character that many time correction completes at or near about 61.8% Fibonacci Retracement level and same is visible in above EOD Chart. As Corrective Wave-4 completion and impulsive Wave-5 is beginning confirmation therefore expected that on going Wave-5 will cross all time high strong rally will be seen above all time high as well in the coming months and year(2012).