In my previous Nifty Outlook post the findings were that we should expect a reversal of this point and as it is last day of the month(29th Oct) so I expect the correction to be over. And thankfully market respected the pattern and till now it hasn't breached the Low of 29th Oct. The link for the previous study:
Now during this entire fall, luckily a Bullish wolfe wave has been spotted. And recently on 3rd November NIFTY has tested the 135 TL successfully by making a low exactly at 135 TL. The first target is 18098. The next target is the P4 ie.18342. A good up-move and market wide participation will be seen only above 18324. The bigger targets will be updated once NIFTY crosses above 18342.
Chart & Analysis - ADARSH DEY
Trade active
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Today reached almost to its First target. But good thing that happened is has broken the 2-4 TL.
Comment
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Re-tested the 2-4 TL with a Gap-down and again escaped the gravity zone. These are very good signs that the Wolfe Wave is still active and can do good in the times to come.