Enjoy the next 300 points on the Nifty. Expecting a reversal at 10500-10540 levels. This borne out by the Gartley pattern. Combine this with the OI data and seen along with other indicators, I believe that the Nifty is peaking for the time being. Nimble traders can look at booking part profits once it starts getting above 10350
Comment:
The bearish Gartley pattern got confirmed when it reversed from the zones mentioned earlier. For the pattern to complete, the DE leg will be the same as the XA leg. The downside can take the Nifty to 6500. Yes... Not a typo. 6500.