forextidings

Nifty can retest 17169 before hitting the 18000 levels

NSE:NIFTY   Nifty 50 Index
Intraday & Short-term outlook of Nifty 50:
Nifty has completed motive wave (iii) at 17792.

Wave (iv) is forming and, it can have a common retracement of 38.2%.

The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169

According to the rule of corrective wave, it remains under the channel.
And the impulsive wave can breakout the parallel channel .
If nifty breaks the parallel channel , we have to accept the impulse atmosphere.
Trade closed: target reached: Nifty has touched the target of 17425. Safe traders can book full profit here.