NIFTY came down as predicted last week, tomorrow(23/2/21) it will testify its worthyness for further bullishness.
A very very simple ABC pattern of recovery wave labelling is marked in this chart. C wave divided into c1,c2.c3,c4,andc5 all are completed.
and WAVE 'C'is more than WAVE'A'. Hence the C wave may extend.
Now we want to see whether the on going correction (current drop) will finish at 50% of C5 at 14514 or not
Catch NIFTY at this level providing 14450 as stop loss. target 15000(Retest from where it falls)
buy between 14570 to 14546 SL 14450 sell near15000, Risk reward 1:3
B.SELVAM BE,MBA
ANALYST,TRADER
A very very simple ABC pattern of recovery wave labelling is marked in this chart. C wave divided into c1,c2.c3,c4,andc5 all are completed.
and WAVE 'C'is more than WAVE'A'. Hence the C wave may extend.
Now we want to see whether the on going correction (current drop) will finish at 50% of C5 at 14514 or not
Catch NIFTY at this level providing 14450 as stop loss. target 15000(Retest from where it falls)
buy between 14570 to 14546 SL 14450 sell near15000, Risk reward 1:3
B.SELVAM BE,MBA
ANALYST,TRADER
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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.
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.