Friends, Technically I see bearish Wolfe wave forming in nifty weekly chart, though it initially gave 2 red weekly candles, there is a high chance of making fresh all time high considering big event (Union Budget) (or) it might face resistance at 21970 to 22060. Hence i am unable to find proper stop loss for this pattern this time... Those who are already in short side please keep your tentative stop loss as 22125. If Nifty didn't cross 22060 go short and my target is big ( I may be wrong). I marked few of the supporting points with green lines along with the target.
Your views, suggestions and comments are welcome. Please not this chart is only for educational purpose. Neither I am suggesting for any trade nor I am a SEBI registered analyst.
Thank You.
Your views, suggestions and comments are welcome. Please not this chart is only for educational purpose. Neither I am suggesting for any trade nor I am a SEBI registered analyst.
Thank You.