NIFTY - Butterfly in the making?
Price structure is clearly week and making new lows.
This pattern should NOT be viewed as a down side target for Nifty .. but if price reaches point D, then it would be good risk reward setup for Longs.
Price point D is also particularly attractive as it marks post election result June 2014 high and a cluster of prior resistances in that zone.
For short term view see comments section below.
This pattern should NOT be viewed as a down side target for Nifty .. but if price reaches point D, then it would be good risk reward setup for Longs.
Price point D is also particularly attractive as it marks post election result June 2014 high and a cluster of prior resistances in that zone.
For short term view see comments section below.
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