Nifty Update: (Signs of Wave-3 commencement Target 19.8K-20K)
Last Month closing Bullish flag breakout on Monthly TF
Current month except a few trading days Nifty closed above 18.1K
Wave-1 completion: Triangle break down of September tops of 18.09K from the lows of 15.1k made in June
Wave-2 completion: Retracement of Wave -1 till 16.7k
Closing above high of Wave-1 (18.1K) gives initial signs for 3rd wave commencement.
Nifty Target in coming session 19.8K - 20K, Wave-3 often extends Wave-1 by a ratio of 1.618:1 (1.618%),
Critical hurdle in up move would be level of 18.5K breaching above this level will attract more participation.
Last Month closing Bullish flag breakout on Monthly TF
Current month except a few trading days Nifty closed above 18.1K
Wave-1 completion: Triangle break down of September tops of 18.09K from the lows of 15.1k made in June
Wave-2 completion: Retracement of Wave -1 till 16.7k
Closing above high of Wave-1 (18.1K) gives initial signs for 3rd wave commencement.
Nifty Target in coming session 19.8K - 20K, Wave-3 often extends Wave-1 by a ratio of 1.618:1 (1.618%),
Critical hurdle in up move would be level of 18.5K breaching above this level will attract more participation.
