This is follow-up on NIFTY. Can check link to related ideas.
Next target can be 15,300 and 20,000...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
It is at the top end of its rising parallel channel . As per Ichimoku it is also at a Price & Time Axis reversal . An hourly close below 14525 would validate the reversal for 14250/13750 . View would get negated if it gives a daily close above day high after triggering a down move.
Nifty halted through the first two resistance lines on the recovery path but slashed through the last two as if they never existed.
This is parabolic up move on weekly chart and this is initiated by the flows from FIIs.
Eventually a profit booking week is going to come and that will be mostly the third or fourth week of Dec.
Another round of up move will be...
NIfty 50 index has gone back up the important trend line that ranges back to it's inception in 1991.
GFC 2008 was only other incident when NIFTY went down this trend line for substantial period.
However when it went back up on the trend-line, it stayed there up until the crash of Health Crisis.
Now, Nifty has recovered from the crash and went back up on the...
Nifty after a strong impulse from 6824 didnt get a strong impulse move up. and started moving in different channels at different wave time.
the wave counts posted are just a possibility and should be traded with caution. its invalidated if the high is broken 8964.
if the high holds strong then trend change is here in nifty.