Nifty after making a recent swing low around ~18060, did a falling wedge breakout and made a swing high around 18420. Almost 350 points. It corrected from there to about 61.8% fibo level and made a swing low today around 18200. The pattern indicates that is forming a flag & pole pattern. Also, as a learner of EW; my wave count suggest that it was a wave 2...
Nifty on hourly Charts is looking as Buying opportunity with targets 18400 & Higher. LTP - 18140 SL - 18075 Target - 18400 Time frame 3-4 Days
Nifty is Again Buy on hourly Charts has come out of 5 days correction & Now Ready for New Rally towards 18700 in coming 2 Weeks. LTP - 18200 SL - 18050 Targets - 18650-18700 Time Frame - 2 Weeks - 10 Trading Sessions.