NIFTY SPOT

NIFTY SPOT

Falling Channel pattern is in ABCDE wave which is 3-3-3-3-3 wave that indicates price may pull back after touched 4400 levels in ABC wave method for at least 3 months as i think. But started new bullish trend in Dollar is confirming to Equity market may continue lower low that means if price will be achieved my higher price tgt. ( 5400-5500) in ABC wave method and then fall below 4400 levels which means free fall for the at least 1 to 2 years in nifty , may be below the 2009 year's low .

I think nifty should trade in between 4400 to 5400 levels for 3-4 months then will be decided for longer term TREND.