Had mentioned 11:58 yesterday, and exactly there, Nifty fell swiftly giving impression to many as if its turning down! But is that really the case? Absolutely NOT!
SGX Nifty is flat today morning, so sideways movement will continue for first 1-2 hours.
Short Term View:
Nifty and BN are up. TSL is 10290 NS and for BN its 25590. Its end I will communicate some 15 minutes in advance. Continue to hold long position with TSL mentioned.
Medium Term View:
Up till 5-6 Dec. TSL is same as ST ---> 10290 NS and for BN its 25590. For targets please refer the chart below, which shows retracement and projection from most recent higher low. As per this, ther are:
Target 1: 10722 NS
Target 2: 10994 NS
Long from 10340 NS .
Accumulated profits: 30 points.
So net net 80 points of profit since yesterday, with 1 long at 10392
Kindly give some lies, many thanks! See my discussion on long term Elliott wave tomorrow.
Nifty and BN both are closing in green!