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Nifty ready for Wave 3 and break to new high ?With positive global market performance, Nifty looks like it completed the wave 2 and to see a gap up tomorrow seems to very high, the rally tomorrow will be wave 3 if it breaks 10550 area and ultimately to complete the wave 5 towards 10600. Price is in a channel under a bigger channel, we have already tested the bigger channel support last week and now it is in the inner channel and succesful break out tommorw above 10550 will confirm the next leg up. If in case 10400 is broken to the downside then this set-up will be invalidated.
NSE:NIFTYLong
by rf16saun
6
SHORT TERM IDEA : BUY LUMAXPreviously we saw Trend Continuation Hint in form of Hidden Bullish Divergence. N Wave is completed and By this week completion if Top is not breached then it will be a Bull Fractal formation. We might see Some Drop from here on since already N Wave is completed. Next Rally will be resumed once Stock breaches This Bull Fractal that stock forms. Conservative Traders should wait for Candle Close above Bull Fractal. But Aggressive Trader can enter as soon as High is Breached. There is no TP as of now but once position is active we might be able to derive a Technical Stop and Initial Target. Although we should remain in Long position unless market takes us out. Trying to ooze out every bit of Profit we can out of this trade.
NSE:LUMAXINDLong
by AvinashMudaliar