1. With the first indication of HH and HL in normal candles, long can be initiated with SL just below the earlier low,
as mentioned here many times.
2. Now the heikinashi candle has given one close above 5 and by Monday expected the second close too.
3.In a couple of days the signals can cross over simultaneously opening the histogram above 0 as final confirmation for the uptrend.
The immediate resistances seen are the 20 MA/Middle BB and going ahead at 11900 . SL or TSL as per individual's risk appetite.
This 5.1.5 wave can reach minimum target of 12300 and a maximum of 12600 expected by mid/end June.
Immediately after that the 5.2 wave expected to return nifty to 11100-200 again by end Aug. Early Sep.
The 5.3 wave starting from End Aug/Early Sep can be the best wave for the bulls which can take Nifty to 14400-700.
followed by 5.4 and 5.5 waves. To predict the timing is very difficult therefore what is stated above can vary by 15-20 days.
The above post is purely educational in nature and may or may not be good for trading. Any person wish to take trade may take advise from his/her financial advisor before doing so as the writer or this website will not be responsible for any such actions whatsoever.
all are fake