clean breakout on 15 mins time frame on nifty however retest pending
safe traders wait to enter long position best level to enter near 17920 SL 17750 Target 18350+
long position holders book above 18200 buy on dips target 18350,18600
avoid shorts until nifty holds 17750 ie, strong support for this month jan expiry
once broken retest 17600,17400 might possible...
Break out happened in Nifty Target 15250 and All time high possible in this moth
break below 14900 sl 15050 target 14775, 14600, 14460 june mid possible not in this month
so practically no bear run in this month fall will turn market in to more bullishness see the wicks buying pressure seen all over the days in this moth
14900 intermediate support of this month...
Wolfe wave analysis - Bearish wave
if candle close above 810, then the pattern fail.
risk to reward favour short, clean sell setup with strict stop loss
Apart from Wolfe bearish wave, I can find out completion of Elliott impulse wave 5 (last bullish wave) I expect Elliott corrective wave occur soon in the ABC pattern
will enter short with confirmation - 30mins...
patient holders be in short to reap the benefits
However, nifty will gain bullish momentum from the strong support zone 14650-750 will approach the zone today or tomorrow itself
from my analysis, it will touch 15100 to fall badly
short term view in Nifty - bearish
Nifty psychological support 14500
overall range for march 13500-15500