Nifty after making a recent swing low around ~18060, did a falling wedge breakout and made a swing high around 18420. Almost 350 points.
It corrected from there to about 61.8% fibo level and made a swing low today around 18200.
The pattern indicates that is forming a flag & pole pattern.
Also, as a learner of EW; my wave count suggest that it was a wave 2 retracement and today's last hour move suggest a start of impulse 3.
The momentum can lead it to the targets marked upside as 100 to 127% extn. , which also coincides with pole length.
Invalidation level is recent swing low; which if price start sustaining below today's low.
It corrected from there to about 61.8% fibo level and made a swing low today around 18200.
The pattern indicates that is forming a flag & pole pattern.
Also, as a learner of EW; my wave count suggest that it was a wave 2 retracement and today's last hour move suggest a start of impulse 3.
The momentum can lead it to the targets marked upside as 100 to 127% extn. , which also coincides with pole length.
Invalidation level is recent swing low; which if price start sustaining below today's low.
Note
Note
Note
Potentially this is the setup for tomorrow 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.