Nifty outlook: bull trend or bull trap?
Aktualisiert
In my previous post, I have mentioned that nifty can make an upward move before making the last leg.
Nifty was at 16999, and it has made a high of 17400 on 31st December 2021.
Nifty is out of the channel and near to the previous lower high.
If nifty breaks up 17639, we can expect a big upward move for 18210, which indicates that correction is complete.
And if it fails to break the parallel channel, we can expect the following targets: 16909-16690-16449-16369, and the price will start wave C of wave (Z).
Please note that the downtrend is below 17639.
I will upload further information soon.
Nifty was at 16999, and it has made a high of 17400 on 31st December 2021.
Nifty is out of the channel and near to the previous lower high.
If nifty breaks up 17639, we can expect a big upward move for 18210, which indicates that correction is complete.
And if it fails to break the parallel channel, we can expect the following targets: 16909-16690-16449-16369, and the price will start wave C of wave (Z).
Please note that the downtrend is below 17639.
I will upload further information soon.
Anmerkung
Anmerkung
Nifty has made a new high of 17827.As I mentioned in the previous idea, it is weak below 17639.
I also added that if nifty gives a break out of 17639, it can go for 18200, which is wave X of the zigzag.
For Day Traders:
If nifty sustains above 17732, the trader can go for the targets of 17906.
Please note nifty is weak below 17715.
Anmerkung
Target Reached: Nifty reached our target of 17906.Anmerkung
I had written in clear words, "If nifty breaks up 17639, we can expect a big upward move for 18210, which indicates that correction is complete".Nifty reached 18210.
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