Looking at the successful completion of wave 4 at 16782, we can expect a beginning of wave 5 for a target of 19776.40.
So we can expect a growth of 18.11% from the low of 4 the wave
Also below level are needed to be followed on a closing basis:-
Level 1:- 17450
Level 2:- 17964
Level 3:- 18597
Final Level:- 19776
Level 3 also gives a confirmation of,...
Volatile start for the week!
Gap up- downward trend in the first half - closing in positive.
Currently, we can see a symmetrical triangle and breakout/down can happen, with the immediate range of 16587 and 16373.
21 and 55ema are also closing in.
Option buyers should stick to buying ATM strikes and should maintain tight SL
Certainly Not ! Because, usually I post out Nifty before 9.15 am & its not the same today. Not a prob, but are we right on Timing the Nifty to our expected zones ? Well, Nifty needs to tell Me that.
Just based on few presumptive reasons, I ascertain Nifty will reach out to 9750's zone between May 31 - Jun 2 & I may be completely wrong. Honestly, in My opinion...
Nifty has completed a 3 wave correction down and is near the previous higher degree wave 4 low. So this should continue up for it's final move above the current ATH.
