So, just by one quick look on the chart you will be know about the beautiful Gartley {updated yesterday morning, so I'm not sure how many of you noticed} and Potential double top formation. We predicted Nifty will taking off after Fed's but turned out to be profit booking & boring day. I don't have much expectations today also.Nifty may be ranging within 8900's - 8840's. The trade setups we have today are :
(i) If Double Top confirmed with Bearish Reversal - Short Nifty (ii) If we find support at zone marked in green with Bullish Reversal - Long Nifty
We have Simple 5-wave Elliot completion, charts will look messy if I draw everything on Nifty. So left it out. Pattern & Double top completion increases confidence only, doesn't mean 100% winning potential. How easy it is... I want Nifty to be this easy everyday, Just under 180 seconds Flat, analysis is over for the day.
Comment
⋅
Now, that's what you call as, Hitting Bull's Eye !
Comment
⋅
Interesting fact, Nifty fell from Resistance to Support in 180 seconds :)