The index bounced from 17613 lows multiple times but the move not looking convincing so far on the upside. It has to cross above 17835 highs & hold above that key level for us to consider a bullish scenario else holding below 17800-17825 zone. The index may re-attempt 17613. If falls below 17613 then 17452 & only below 17452 - look for 17325
17325 - A - Wave Bottom of the Proposed Triangle
17452 - C- Wave Bottom of the Proposed Triangle
17613 - E - Wave Bottom of the Proposed Triangle - 17613 was the low where the index bounced upside as discussed in the last idea.
----------------------------------------------------------------------------------------------------------- Last Idea - Nifty: Bullish Gartley - Broke 17799 & Bounce from 17613 lows ----------------------------------------------------------------------------------------------------------
Trade active
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13:38 Hrs / 1st Nov 2021
Last @ 17883
17835 crossed on the upside- is the indication for bulls becoming strong - an important level.
Comment
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14:02 Hrs / 1st Nov2021
Last @ 17909
The index touched 17920 Highs approx. Partial Profits to be booked & plan next long positions only above 17920.
Comment
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14:58 Hrs / 1st Nov2021
Technically A Double Bottom is confirmed once swing high is crossed which was 17918/17920 highs
Projecting Distance 17918-17613 = 305 Points above 17918 we get 18223 as bookish target (Mentioned in technical analysis books)