NIFTY came down as predicted last week, tomorrow(23/2/21) it will testify its worthyness for further bullishness.
A very very simple ABC pattern of recovery wave labelling is marked in this chart. C wave divided into c1,c2.c3,c4,andc5 all are completed.
and WAVE 'C'is more than WAVE'A'. Hence the C wave may extend.
Now we want to see whether the on going correction (current drop) will finish at 50% of C5 at 14514 or not
Catch NIFTY at this level providing 14450 as stop loss. target 15000(Retest from where it falls)
buy between 14570 to 14546 SL 14450 sell near15000, Risk reward 1:3
B.SELVAM BE,MBA
ANALYST,TRADER
A very very simple ABC pattern of recovery wave labelling is marked in this chart. C wave divided into c1,c2.c3,c4,andc5 all are completed.
and WAVE 'C'is more than WAVE'A'. Hence the C wave may extend.
Now we want to see whether the on going correction (current drop) will finish at 50% of C5 at 14514 or not
Catch NIFTY at this level providing 14450 as stop loss. target 15000(Retest from where it falls)
buy between 14570 to 14546 SL 14450 sell near15000, Risk reward 1:3
B.SELVAM BE,MBA
ANALYST,TRADER
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