nishith1210

Nifty Wolfe wave study

NSE:NIFTY   Nifty 50 Index
Nifty is forming Bullish wolf wave . Chart showing 99950-10050 will be good support zone if it reaches.
Trade closed: target reached: NIFTY has gained almost 800 Points from the low of 9950.

Time to be cautious at level 10800- 10900.

Trailing for all longs will help gained Capital.

Comments

Nishith ji, Thanks for the idea and your efforts. I think we can trade it like parallel channel specially if we consider the lowest of point 3 for drawing the lower line.
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nishith1210 praveen.bhatiya
@praveen.bhatiya, I think wolfe wave is just pattern to understand the price balance between Bulls and Bears. Pattern shows that Bulls have tried two times (Point 1 and Point 2) and failed but third time (point 5) they should come up with more power and vigour . Nifty has still not formed Bullish price action but we can see small upmove as per the study . Rest market is supreme so any trade with Strict SL
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