NIFTY

Good Morning Friends :

There is clear 5 wave in (5217-5720 ) and also there is a 5 wave rise in last sub wave (5535-5720),The 5th of 5th is over or at max it can move up to 5756, so short near that level , in 30 min chart there is a formation of rising wedge ,which is a bearish pattern ,break out of 5640 level will leads to 5440.so don't buy for time being as expiry is very near and monthly closing,wait for a correction to buy for the final leg up ,keeping in mind the expiry ,i will suggest a bear spread ,buy 1 lot 5700 PE and sell 2 lot of 5600 PE and hold till expiry ,as i see expiry below 5700 and above 5600.

HAPPY TRADING: R.K