SGX nifty is showing ABCD pattern where CD leg already have created an Fib extension of 1.272 AB at 13184.
It is already a bullish script now if it is breaks 1.272 level and goes up then it may go till 1.618 and further more 2 in fib level.
So the bullish entry should be above 13184 and Targets are 13622 and 14105.
Now if the script comes down and breaks...
Analyzing SGX NIFTY FUTURES for future movement of NIFTY INDEX is a good IDEA.
Here ALSO the 'B' wave of 4th wave completed at 12821.
next would be ABC down leg to unfold. since 4 th wave B has gone more above start of A ,we can expect a running correction (0.618*A) 11523 or an Expanded or irregular correction(1.618*A) 10156.
Having our GOVT anounced...
10145 to 10345 price range holding currently bull structure still intact sudden push upside breaking 10264 next bull range 10600 to 11000 nifty next upside range. Right now there's much probably to break upside and theres a bull divergence also created in the same range.
10200 is the psychological level once that level tests I'll look for shorting opportunity once the price 10120 level broken to the downside. KISS formula.
1. Huge divergence on the multi time frame.
2. Price reached and reaching to a higher range.
3. I don't want to be left from the entire downside.
4. The global market is bullish.