TF: 15 minutes
CMP: 25965
As per the wave counts from the lows at 24587, Nifty seem to be in the 4th wave on this impulse. The set up looks to be forming a triangle, (mostly formed in wave 4) and as soon as it gets resolved, there could be a possible leg up to complete the 5th.
The Harmonic Shark set up also suggests that we are in a triangle (completed abc and d is in progress) and the e wave pullback could potentially retest 25900 in the coming days before resuming the uptrend for the 5th.. See the chart attached for better understanding.
Potential upside levels: Since the 3rd wave was extended only to 1.382, the 5th could be extending.
Wave 1 = Wave 5 target is at around the levels of 26600+ and that can be considered as a minimum projected level for the upside.. although, any high above the 3r wave top of 26104 itself will be sufficient..
As they say, never trust the 5th wave.. so trade with caution from here on.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
CMP: 25965
As per the wave counts from the lows at 24587, Nifty seem to be in the 4th wave on this impulse. The set up looks to be forming a triangle, (mostly formed in wave 4) and as soon as it gets resolved, there could be a possible leg up to complete the 5th.
The Harmonic Shark set up also suggests that we are in a triangle (completed abc and d is in progress) and the e wave pullback could potentially retest 25900 in the coming days before resuming the uptrend for the 5th.. See the chart attached for better understanding.
Potential upside levels: Since the 3rd wave was extended only to 1.382, the 5th could be extending.
Wave 1 = Wave 5 target is at around the levels of 26600+ and that can be considered as a minimum projected level for the upside.. although, any high above the 3r wave top of 26104 itself will be sufficient..
As they say, never trust the 5th wave.. so trade with caution from here on.
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Dagangan aktif
Price is getting rejected from the 26020 levels (D completed) as expected.. I am looking for price action near 25900-930 levels.. could very good RR trade set up at that range..We should look for break above 26050 for bullish confirmation though
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
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.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Penafian
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.