Nifty Still not comfortable to go North
inspite nifty looking like taking support but still as per Elliot wave pattern its forming a incomplete structure.
The bounce from 24073.9 level may get sell off from 24561 level and then Index is expected to move down @ 23714 level and complete its correction in smaller cycle which started from 26277.35 level and will complete wave Y (red) which will be completion of Wave . from where we can expect a start of Wave (4) Blue.
Which means we can take position for riding Wave (5) Blue. Best entry will be @ 23714- 23 -23316 zone with stop loss of 22820 levels on NIFTY INDEX
Please note since NIFTY is in a strong Bull wave scenario on higher time frame we dont recommend in any selling or short position. We should only look for buying opportunity that too at the most probable reversal point as mentioned above.
Target we can expect min 3000 -3500 points Up move from entry level.
Disclaimer: we are not SEBI registered advisor. Please asses your risk and consult your financial advisor before taking any actual position.
This view presented is only for Educational purpose.
WISH YOU A HAPPY DIWALI AND HAPPY TRADING
The bounce from 24073.9 level may get sell off from 24561 level and then Index is expected to move down @ 23714 level and complete its correction in smaller cycle which started from 26277.35 level and will complete wave Y (red) which will be completion of Wave . from where we can expect a start of Wave (4) Blue.
Which means we can take position for riding Wave (5) Blue. Best entry will be @ 23714- 23 -23316 zone with stop loss of 22820 levels on NIFTY INDEX
Please note since NIFTY is in a strong Bull wave scenario on higher time frame we dont recommend in any selling or short position. We should only look for buying opportunity that too at the most probable reversal point as mentioned above.
Target we can expect min 3000 -3500 points Up move from entry level.
Disclaimer: we are not SEBI registered advisor. Please asses your risk and consult your financial advisor before taking any actual position.
This view presented is only for Educational purpose.
WISH YOU A HAPPY DIWALI AND HAPPY TRADING
Disclaimer
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