TradingView
bijoy2526
Apr 17, 2024 11:22 AM

Some bounce expected. 

Nifty 50 IndexNSE

Description

Clear divergence between price and oscillator.
This is four hourly chart.
stochiastic is in overslod condition.
It is not essential that divergence only confirms buying immediately.
The on going wave is C wave..which should consists on five waves,
In daily time frame it is not visible.
we will check hourly chart later.22137 is important level.
As long it holds that bouncing to 22349,and there after 22427 is possible.
how ever if it is unable to sustain above 22137 next down side level 22011 will be opened up.
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Comment

Comment

Gap offered resistance.
Comments
Parasuram
what is 22137 level? it is not fib number...
bijoy2526
@Parasuram, no that is not any fib level.
veejayke
trading view has problems if I like any idea. maybe June shall see the top
sneh1985
after ending diagonal, I haven't seen irregular flat correction so far in my career, ending diagonal itself means end of all impulse waves
bijoy2526
@sneh1985, in case of ending dional stop loss is normally placed few ticks above 5,22526 but it has crossed that point to make new high 22775.Hence that ending diogonal is questionable.
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