Buy the gap down on Monday as close as possible 9957 . for a better RR.
The degrees of a wave
Highest degree : Minuette level . Nifty has completed one full impulse at minuette level from 9696 to 10075 . Rising from a truncated 5th . Which itself is very bullish . Higher degree : It has completed another five wave impulse at subminuette of wave i consisting of five waves at micro degree .
Now it is correcting in wave ii of sub minuette degree .
A wave ii is sharp and may reach .50- 10073 , 0.618 - 10044. It is expected to be a sharp zig zag . Then we will see a sharp upmove for wave iii of sub minuttee degree .
@gopicbin1, Might open at 10120 . That is the start of the ending diagonal . But the point is we may be looking at new highs if 9957 is not broken and shorts should cover if they get the chance .