Hello Friends I am Back after a week Long Snowy Vacation to Kashmir
In continuation with previous view, I mentioned as a detour it may breach 17241 level and if so we will revisit wave count. It did and now we have rearranged the wave count, However our overall view still remains same that Nifty is expected to give Downside unless it breaks 18604.45
While forming ((X)) in Black in my view its forming a Irregular Flat and expected not to cross prev High of 18604.45.
As long as it stays below this level its High probability of Making one more leg Downside forming ((Y)) in Black, which will also complete correction which started from 19-OCt-21 @ 18604.45
I Will be looking for selling Opportunity in Nifty for short term once it approaches 18200-18399 zone
Stop loss : 18604.45 as once this level it breached it will be making again a bullish sequence. and will rearrange the count for next opportunity.
Overall view in Long-term is Bullish and will again look for Buying opportunity once this correction is complete and wave II Red is formed.
WISH YOU A HAPPY TRADING
DISCLAIMER:
These views mentioned are personal views for academic purpose , incase you want to trade on this please access your risk and consult with your financial advisor.
In continuation with previous view, I mentioned as a detour it may breach 17241 level and if so we will revisit wave count. It did and now we have rearranged the wave count, However our overall view still remains same that Nifty is expected to give Downside unless it breaks 18604.45
While forming ((X)) in Black in my view its forming a Irregular Flat and expected not to cross prev High of 18604.45.
As long as it stays below this level its High probability of Making one more leg Downside forming ((Y)) in Black, which will also complete correction which started from 19-OCt-21 @ 18604.45
I Will be looking for selling Opportunity in Nifty for short term once it approaches 18200-18399 zone
Stop loss : 18604.45 as once this level it breached it will be making again a bullish sequence. and will rearrange the count for next opportunity.
Overall view in Long-term is Bullish and will again look for Buying opportunity once this correction is complete and wave II Red is formed.
WISH YOU A HAPPY TRADING
DISCLAIMER:
These views mentioned are personal views for academic purpose , incase you want to trade on this please access your risk and consult with your financial advisor.
We will wait further as mentioned in chart to initiate Selling in NIFTY.
And If it is able to manage to break previous High of 17604.45 before or after completing (v) in Blue. Than we will avoid selling Nifty.