The NIFTY is forming rising wedge break down is 5690 and target is 5500 and upper trend line is at 5745 and BANK NIFTY is forming triangle break down is at 11400 and target is at 10900 so those who don't want to short buy only above upper break out level .
As a trader we need to be flexible.. There are two possibilities coming up on Nifty. Either 5th wave Extension or An Ending Diagonal in c of 3rd wave.. Which of these will come true that only time will tell us.. So below 5691 Initial sign of weakness confirmation below 5639.. Abv 5756-5780 5th wave will extend.. So keep sl of 5639 for longs.. and 5780 for shorts.. I I will short on Pull-back if 5639 breaks.. Currently holding longs...
Hi Ranjit,
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As a trader we need to be flexible..
There are two possibilities coming up on Nifty. Either 5th wave Extension or An Ending Diagonal in c of 3rd wave.. Which of these will come true that only time will tell us.. So below 5691 Initial sign of weakness confirmation below 5639.. Abv 5756-5780 5th wave will extend.. So keep sl of 5639 for longs.. and 5780 for shorts.. I I will short on Pull-back if 5639 breaks.. Currently holding longs...
Thanks & Regards,
Harsh Dixit.
Thanks Harsh
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