There is a clear 5 wave rise from 5215 to 5815 ,but there is no sign of correction ,than how to trade in coming weeks .The trend line and the channel drawn in the chart is going to be our trading strategy for coming weeks, This is NIFTY FUTURE chart showing a wedge and a channel ,The upper trend line of wedge is 5860 NF and increasing daily by 10 points ,selling NF is advisable at near that trend line and break out of the wedge is near 5735 NF and this trend line is also increasing daily by 10 points,The break out of the wedge will show further weakness in NF towards 5680 zone which is the middle line of the channel and breaking 5680 NF will leads toward 5500.The wedge target is around 180 points.
The Q-2 results are going to be out one by one ,so market will try to be in the range of (5500-6000),and highly volatile .
R.K.
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