Please recall my post of 20 th January.
I had suggested two probable wave counts.
1st one was it mat be 4 th wave retracement of third wave.
But as it has invaded in to the territory of 1st wave that is not valid.
2 nd one I had mentioned that nifty may have completed 5 wave
and it is 2 nd wave retracing, I had mentioned that clearly
but only problem there was I was expecting bounce from 38.6 percent retracement.
But today it has bounced from 78.6 percent retracement and right from my channel line.
nifty is now at stochistic support area that I have show in the chart.
Nifty should move here from to the centre line of the channel..
and confirmation of this move as an impulsive only if breaks out of the channel
that is around 18470.
wish you happy trading
don't forget to like my post.
follow me to get updates.
please go through my previous posts.
I had suggested two probable wave counts.
1st one was it mat be 4 th wave retracement of third wave.
But as it has invaded in to the territory of 1st wave that is not valid.
2 nd one I had mentioned that nifty may have completed 5 wave
and it is 2 nd wave retracing, I had mentioned that clearly
but only problem there was I was expecting bounce from 38.6 percent retracement.
But today it has bounced from 78.6 percent retracement and right from my channel line.
nifty is now at stochistic support area that I have show in the chart.
Nifty should move here from to the centre line of the channel..
and confirmation of this move as an impulsive only if breaks out of the channel
that is around 18470.
wish you happy trading
don't forget to like my post.
follow me to get updates.
please go through my previous posts.
Trade closed manually:
for nifty 17082 strong support below that 16981
if nifty trades above 17183 it will be positive
bank nifty support zone 37484,37168,36852 are support zones if bank nifty trades above 37484 it is positive, Sgx indicating huge gap down hence buying at such gap down with continuous Fii selling we should watch if nifty and bank nifty closes above
17183 and 37484 by the end of the day.
if nifty trades above 17183 it will be positive
bank nifty support zone 37484,37168,36852 are support zones if bank nifty trades above 37484 it is positive, Sgx indicating huge gap down hence buying at such gap down with continuous Fii selling we should watch if nifty and bank nifty closes above
17183 and 37484 by the end of the day.
Comment:
we should watch if bank nifty and nifty manages to close above mentioned levels
