Swarnendu_Mitra

NIFTY Buy for last leg up.

Long
NSE:NIFTY   Nifty 50 Index
NIFTY low will be done today as per time analysis. 119XX/120XX coming next. Important dates are marked on chart. Buy with today's low as hourly CBSL, book half above 11400, re-enter on dip and book all above 11900.
Trade active: Will take today's and tomorrow's lower low as SL touch basis.
Comment: It turned to be a normal B wave flat. Upside target now 11795-12090 (1-1.238 of B) or if correlates with A, 11940 as 1X of A. Minimum target 11500 (0.618 of B).

Comments

give a idea , nifty uptrend or down trend
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@PRAMEENA, Target is already done for this count. Now keep two numbers in mind. 11887 day Closing basis, more highs are coming. 11661 break even touch basis, 11262 opens. Right now trade is intra till either of these are not taken out.

I'll post fresh count here only after this range is gone.
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PRAMEENA Swarnendu_Mitra
@Swarnendu_Mitra, , txs sir , your valuable reply
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sir pls update nifty level ,
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Still this idea is valid?
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Swarnendu_Mitra zeeshanshadab
@zeeshanshadab, Yes, still valid. But another low tomorrow cannot be ruled out as per structure. Confirmation of bottom done is when sustains above 11138. Target 11700 to 12100. Will consider top done only sustaining below 10630.
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nice analysis looks like the market might break yesterdays low and then rally towards 11500
maybe buy at 10980? if yesterdays low is breached?
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Swarnendu_Mitra zeeshanshadab
@zeeshanshadab, NIFTY pattern unfolding so far is 3-3-5 Flat running from 10882 low. A done at 11795. B did exact 0.786 of A so far. So, if this low remains intact, this is a Weak B wave Flat and target for C will be 11795-12065 zone(1-1.382 of B). There is no valid SL for this view as so far it's B failure as it was expected to go lower. If it goes lower, upside targets may reduce a bit.
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this is possible,if it happens like this a BIG THANKS to you bro.but there are chances of nifty going to 10880 in this week.then 12200 sure.Timing is also near my judgement.
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@ckirtane, yes if X forms a triangle then can go down, but shouldn't sustain below 10882 low (can break, but reversal should come). If stays below 10882, then top may be done. However, today's date was a strong confluence of the pattern, so expecting it to hold or maybe deviation of one more day and low will come tomorrow. Anyways, even if it keeps falling, will get bounce to get out with minimum loss. So, two things to watch out for, if today's low holds tomorrow, long bindaas. If it breaks tomorrow, then be cautious. If tomorrows low also breaks next day or later before first target, use bounce to get out.
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