NIFTY 50 :
Nifty had faced the resistance at the trend line of the wedge and H&S breakout and unable to cross the break out level ,Considering a-b-c correction of 4th of C from 5815 NIFTY can move towards 5585(38.2%) retracement of 5215-5815 and than towards 5515 i.e.50% retracement ,as i stated in my last post i like to wait till 11 or even 12 of OCT for correction to be over ,NIFTY had taken the support near median line of the channel ,breaking and closing below 5705 will open the target of 5585/5515.Refer my previous hourly chart.My personal trade i m still on short side still holding .
NASDAQ-100:
Refer my last post on Nasdaq-100 There is H&S formation and Nasdaq-100 given the breakout today Break out level is 2778 and target is 2675,and currently trading at 2743,similarly there is also H&S formation on S&P 500 ,and many world indices are forming H&S so again warning be cautious .
R.K
Nifty had faced the resistance at the trend line of the wedge and H&S breakout and unable to cross the break out level ,Considering a-b-c correction of 4th of C from 5815 NIFTY can move towards 5585(38.2%) retracement of 5215-5815 and than towards 5515 i.e.50% retracement ,as i stated in my last post i like to wait till 11 or even 12 of OCT for correction to be over ,NIFTY had taken the support near median line of the channel ,breaking and closing below 5705 will open the target of 5585/5515.Refer my previous hourly chart.My personal trade i m still on short side still holding .
NASDAQ-100:
Refer my last post on Nasdaq-100 There is H&S formation and Nasdaq-100 given the breakout today Break out level is 2778 and target is 2675,and currently trading at 2743,similarly there is also H&S formation on S&P 500 ,and many world indices are forming H&S so again warning be cautious .
R.K
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