Nifty for the entire day remained range bound, except for that last hour or so. As marked on the chart, it appears that Wave C of the first leg of correction is complete and
wave X has started to unfold .. Target for Wave X would be at levels of 11540 .. Hence view for 08 Sep would be bullish for Nifty ... However, as its become routine for Nifty to eat up momentum by means of gap up/ down opening, expecting a gap up tomorrow somewhere close to 11380-11400 ... Thereafter, 11420-11440 being resistance, Nifty may as usual, spend entire day correcting itself
Note - Views expressed are purely personal and solely intended for educational purposes. Same may not be used for trading instruments
wave X has started to unfold .. Target for Wave X would be at levels of 11540 .. Hence view for 08 Sep would be bullish for Nifty ... However, as its become routine for Nifty to eat up momentum by means of gap up/ down opening, expecting a gap up tomorrow somewhere close to 11380-11400 ... Thereafter, 11420-11440 being resistance, Nifty may as usual, spend entire day correcting itself
Note - Views expressed are purely personal and solely intended for educational purposes. Same may not be used for trading instruments