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Today’s Levels

Nifty Forecast on 22-6-2015

Written by kssaravanan on . Posted in Nifty

In last post I suspected neutral triangle for that I also wrote that nifty should not reach 7619 and nifty should bounce minimum 635 Points. As of now nifty did not breach 7900. From low it already bounced 310 Points.

Let us see weekly chart for possible reversal sign


Nifty yet to break B-D Trend line of Wave {E} marked in Green. So medium term bottom is still not confirmed.

Let us see daily wave chart


I hope the fall from 8467 to 7940 is a truncated zigzag and the raise from 7940 is still not unclear.

As per neo wave guidance the thrust after truncated zigzag should be minimum 81% of the pattern

This level comes at 8367 since in weekly chart BD trend line still need to cross. I think if nifty crosses 8320 then trend line would breach. Apart from this nifty faces another hurdle at 8266 which is 61.8 level of 8467-7940. A failure to breach this open Possibilities x wave

Even if 8320 breaches then one can say market bottomed out since still possibilities of diametric open


So Trading Strategies for next week would

Until 8266 it is sell on rise

8320-8367 no Trade Zone

If 8367 breaches then Buy on dip would be right Strategies



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