- Nifty has been in a sideways consolidation for last few days, it actually formed a flag/pennant.
- We have a clear BO today. As we have been reiterating, the band of 5870-5970 was critical for any up move.
- Right now too 5970 is very important, above that level we may test 6030 - 6130 band.
- We have an (a)-(b)-(c) move on our hand, and wave (c) should be equal to wave (a), which comes around the 6100 mark approximately.
- SL for this trade would be the last pivot low, around 5800 with current price around 5940 and with probable target around 6130, we get a reward to risk ratio of approximately 2.
- Oscillators are in OB zone, but during trending moves, they can stay OB for a while.
thrust after triangle will be probably equal to highest move of triangle...i.e. 132 points achieved. And a-b-c x a-triangle b - c is got completed ... & sudden down move can occur...learning thought only
ReplyDeleteI am cognizant of your target calculation for triangle, but the wave labels u have mentioned, I am not able to understand. You can send me a chart, for greater clarity.
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