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Alpha India Indices - NIFTY Preferred and Alternate

Orpheus Capitals, Oct 2011, Pages: 4


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NIFTY Weekly.

Prices are retesting the intermediate trend channel resistances near 5,350-5,400 levels. The preferred view looks at a completing (X) wave up and a pending corrective (Z) wave down till previous lows at 4,700 levels or even lower. Alternate, on the other hand, sees this as a complete (W)-(X)-(Y) correction down and looks at further upmove above 5,400 resistances.



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