In the previous post of NIFTY OUTLOOK the weekly target and support was given and alarm for cautiousness was updated. The target was missed by a small margin and as expected NIFTY came rolling down. But the weekly support was not broken and respected Dot to Dot. In-fact a Bullish Wolfe Wave was formed at support which was even updated when nifty was at its bottom. (The link is mentioned below)
The target was mentioned as 18310 which was even achieved and a downside reversal was seen. So managed to achieve 300 Points return in NIFTY
The reversal was because of a Bearish Wolfe Wave formed and the target of it remains to be 18100 Levels.The level is important because it is a cluster of P4 of Bearish wave formed and the Golden Ratio of the entire recent uptrend.Once it is broken the targets will be updated or if nifty takes support the next move will be updated as well.
If you regularly go through my ideas and find it useful, please like and Follow. It keeps me motivated.
Chart & Analysis By- ADARSH DEY
The target was mentioned as 18310 which was even achieved and a downside reversal was seen. So managed to achieve 300 Points return in NIFTY
The reversal was because of a Bearish Wolfe Wave formed and the target of it remains to be 18100 Levels.The level is important because it is a cluster of P4 of Bearish wave formed and the Golden Ratio of the entire recent uptrend.Once it is broken the targets will be updated or if nifty takes support the next move will be updated as well.
If you regularly go through my ideas and find it useful, please like and Follow. It keeps me motivated.
Chart & Analysis By- ADARSH DEY
Comment:
As the mentioned target has reached and has gone below it ! The Previous NIFTY OUTLOOK post is active and it will act as guide for all support and target as well.
Comment:
Second Target of 17845 Achieved.
Comment:
Wolfe Wave complete and Reversal Seen. Chart Completed.
