There are 2 possibilities we can look at in this raging debate of where are we headed.OPTION 1: We take the start of the rally from 920 till 6357. This is the possibility which most of the experts every where have been discussing.The retracements are self explanatory and in RED colour.
OPTION2 :The start of this rally for the time being is taken as 2595 till 6357.The movements of nifty suggest till now that we have been moving in a range which fits these points..This is in BLUE colour.
The possible lows we can hit in the 2 options are 3423-2116..these levels have come out of pure technicals.I have also posted in the blog the speed lines in a monthly chart for tentative movements..kindly take your call from this and trade according to your perception and risk appetite..
As regards next week, 4100 will be the S/R for nifty future,range is wide 3750-4450..take ur call..cheers.
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