nifty support & resistances

· Resistances on NIFTY are7618 / 7660 / 7705.
· Support Levels for NIFTY are7541 / 7501 / 7423.
· We are most probably in the 4th phase of second corrective.
· This phase is technically the most volatile & time consuming in nature.
· Although a new low was witnessed on yesterday too below 7600, the possibility of a triangular or diametric wave formation within the 4^th phase still brightly exists.
· Only after its completion will start the 5h phase on severe decline in the market.
· Till then Triangular & diametric, both wave pattern suggests regular ups & downs which shouldn't be a reason for panic.
· An upward corrective Pull Back is on the cards.
· Good luck..