The current structure in nifty suggests following few scenario's.
a) A triangle consolidation which possibly suggests a 4th wave underway.
b) A abc flat and now a possible impulse underway.
Lets discuss both scenario's
If a triangle price needs to take a dip to complete e wave of triangle before the breakout or
breakdown.
If no dip seen then it would suggest an impulse underway after abc flat
impulse counts will change according to the spike 5100 would act as stiff resistance(double top).
This nifty rise would be probably backed by rises in banks and reliance pack IT biggies have
either hit double tops and are retracing the recent fall.
Regards
Rish
PS:-My views are for traders always use sl
RESEARCH REPORTS
looks like the impulse is underway the 3rd of impulse should target 5120-5131 before 4th consolidation
ReplyDeletePlease change the black background to a lighter shade as charts are not clear.
ReplyDeleteSanjay click on charts they will expand nicely then:)
ReplyDelete5120 target archieved
ReplyDelete