NIFTY Plan of Action for 29th August
From the 19th August top at 17992, Nifty has fallen in 5 waves impulse (1H) which suggests the short term trend is down. After completion of 5 waves down, Nifty rose in a corrective pattern (ABC) and stopped around 61.8% retracement which gives confidence that the rise is indeed corrective.
From the C made on 25th August, Nifty seem to have started the 3rd wave down and we are currently in wave 3 (green) of larger wave 3 (black). Smaller wave 3 (green) seem to be extending in 1-2-1-2 structure which suggests that we 3 might be bigger than 1. If we take 1.618% extension then we can expect wave 3 to take Nifty around 17280 before we get a counter-trend wave 4 bounce.
Overall, the larger wave 3 should take us around 17100 zone.
From the C made on 25th August, Nifty seem to have started the 3rd wave down and we are currently in wave 3 (green) of larger wave 3 (black). Smaller wave 3 (green) seem to be extending in 1-2-1-2 structure which suggests that we 3 might be bigger than 1. If we take 1.618% extension then we can expect wave 3 to take Nifty around 17280 before we get a counter-trend wave 4 bounce.
Overall, the larger wave 3 should take us around 17100 zone.
Be a Better Trader!
Disclaimer: Do your own due diligence for buy/sell decisions.
Disclaimer: Do your own due diligence for buy/sell decisions.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.