An attractive Risk Reward trade setup in the Nifty 50 index. The drop from the January high still counts as 3-wave move as we publish this. The subsequent bounce is ambiguous. It can be counted as a 3-wave as well as a 5-wave move. We remain with our expanding ending diagonal scenario as the most probable forecast for the Nifty 50 at the moment. This is shown in the published chart. Key to this count is that 10,276 is not crossed to the downside, which invalidates our case here.
S/L 10,276
T . 11,200
S/L 10,276
T . 11,200
Trade closed: stop reached
Note
-2%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.