NIFTY
- Nifty index looks almost at the verge of extended 5th wave and showing sign of rejection at higher levels. Nifty is following a parallel channel and has broken short term bullish dynamic support.
- Based on the Elliott ABC correction waves, NIFTY can correct to highlighted levels in the medium term.
Trade closed: stop reached:
Relabelling. Stop hit due to wrong wave count. Wave 3 of Minor degree in progress. Shows all characteristics of wave 3 personality. Can be extended till next month.
Go Long for a minimum target of 18300. Until it shows signs of correction. Minor corrections of few 100 points expected due to lower degree waves.
Go Long for a minimum target of 18300. Until it shows signs of correction. Minor corrections of few 100 points expected due to lower degree waves.