Looking at the monthly chart, it is one of the Elliot Wave Correction and Nifty is at the important level. My view is that the correction is almost completed and and can reverse anytime or it can go to maximum of 7900 level. So basically the point is to have a view of long and not a short biasness because nifty has fall 3200 points and one larger wave is coming...
S&P trading at 2509. It made a recent low of 2345 which is a very stong support. Right now it did bounce from that support, but in coming days will it protect that support or will break it. Time only will tell but chances are that it will not break that support as from the Elliot Wave perspective this fall from the all time high clearly looks like an ABC . If at...
