The rally can go upto the 78.2% retracement lvl..which for nifty is around 5052....although yesterdays high wasnt TOO far away.........
a look at the intraday structure suggests a possible rising wedge,,,which is supported by a very STEEP trendline,i think such steep trend, suggests a pause to the current rally again.
one should wait for the decisive breach of the trendline.
i will keep patience and wait for atleast a higher bottom to enter long.
1 comment:
sir what your system signals. your 5052 target met today. is there any chance for fall this series or will it make new high of 6000 in nifty this year.
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