Market reversed from the top as my technical assumption was and we have given many times about the possible road map of nifty. Currently We have some doubt because Elliott wave formation has not giving clear picture on the chart. Market fell consistently eight days but we have not seen any impulsive down move of more than 80 points which happen few weeks ago 100-150 points rally in a single day. In other words market fell but in very slow momentum.
So I feel that 6141 Spot Level on closing basis will flow water on bears who is dreaming for lower level. So This week price action will be very important for both bulls and bears. Any move above 6141 (spot price) with gap up action will provide strong and fast up move to create new high. Any fall below the gap or previous day low will provide us down indication that one more down wave is pending towards 5876 level.
Aggressive trading will be very dangerous this weak. Trading without proper guidance can be adventurous.
Go for Positional long above 6150 for target 6250
and go for Positional short below 6100 for target 5920
