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Swarnendu_Mitra
Sep 22, 2019 9:44 AM

NIFTY EW Long

Nifty 50 IndexNSE

Description

On a larger TF NIFTY is doing ED from 9951 and if one hrly candle closes above Friday's high, it's either going for 11490/11540/116XX (B of D of ED) or ATH (E of ED) .

As long as a day doesn't close below 11100, I'd prefer to stay bullish.

Trade closed: target reached

All targets reached if it's B of D of ED5.
ATH coming if it's A of E of ED5.

In both cases, a dip is expected, which might convert into a fall depending upon which of the two alternatives is at play.

Sustaining below 11590, gate might open for 11410-380. Below 11100, 103xx/2xx might be final stop..

11590-11690 tagda resistance zone, above that direct ATH..
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