raj0778

Nifty 50

Long
NSE:NIFTY   Nifty 50 Index
Nifty gave a BO of a falling wedge in a 5 wave impulsive fashion. Wave counts have been marked on chart. Support zone (15431 - 15371) should act as a strong support, completing minor wave (iv). So expecting Nifty to hit the support zone and bottom out either tomorrow or day after. From there on Nifty is likely to go ahead with wave (v) for target of 16250 - 16300. Idea gets invalidated below 15140.

Note : Views expressed are solely for educational purpose only and not meant for trading instruments

Comments

so short until support then reverse to long after seeing reversal from support zone
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raj0778 shaileshyankanchi
@shaileshyankanchi, not that easy either ... why would anyone short a bull run anyway .. wait for the correction to get over with as the pattern is not yet clear .. word of caution, Nifty might be in green, today and tomorrow as well
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