Nifty is in wave 5 on downside correction. Either Nifty reverses from 10100 or from 9950 but bottom is in sight as Crude oil & USDINR both are now in correction mode.
Markets are ignoring the correction in crude oil and trading with negative sentiment.
Long Nifty @ 10200 for an ABC pattern on upside !! Look for lvls of 10700 - 11200 !!
Markets are ignoring the correction in crude oil and trading with negative sentiment.
Long Nifty @ 10200 for an ABC pattern on upside !! Look for lvls of 10700 - 11200 !!
Trade closed: target reached
Nifty is now trading closer to 10600 with positive crude oil & USDINR sentiment. This could be the Wave A on upside ( 10600 - 10700 ) and a gapdown would establish wave B on downside. So Book Profits and wait for a gapdown !!Trade active
Wave A finished ! look for wave B -- 10300 targets .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.