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Thursday, 7 November 2013

Nifty H4 & Daily

General Overview for 07/11/2013 

Bullish wave progression is so far intact and more upside is anticipated after wave (ii) green corrective cycle is done.
Targets are on the chart.
Please notice that a breakout to the downside below Key Level of 6067 is much more bearish and it might result with GAP zone test before trend will eventually resume.

Support/Resistance:

6487 - WR1
6367 - Wave (i) High
6282 - Weekly Pivot
6232 - Technical Support
6195 - WS1
6067 - 23%Fibo | Key Level |
5993 - WS2
5909 - WS3

Trading Recomendations:

Sell the top test @ 6367 with TIGH STOP LOSS for a potential TP @ 6067.

Take care,
Seb



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