Nifty Hourly 26-02-15

Hi,

With the railway budget and the expiry day, we saw a good move towards the downside as shown in yesterdays post where the prices stopped near the downward channel. 2 Days to go for the budget and as we are experiencing a good correction, post budget we could see all time highs and huge percentage changes in the index towards the positive. The only doubt that I have is whether the C Wave is over or there will be another down leg forming into 5 subwaves.

Nifty

 

Pivot – 8715

Resistance – 8740,8800

Support – 8640,8600

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