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Timeframe: Daily
The impulsive structure began at the low of 5220. It was a classic impulse pattern with five wave moves. Currently, Price has started unfolding impulse wave 5.
Wave Formations:
- Wave 1 – Impulse
- Wave 2 – zigzag
- Wave 3 – Extended Impulse
- Wave 4 – Running flat
- Wave 5 – In progress
The Fibonacci Relationship:
- Wave 2 – 78.6% of wave 1
- Wave 4 – 38.1% of wave 3
- *Wave 5 – not more than 161.8% of 4th wave, reverse Fibonacci retracement at 8000.
If NSE BAJFINANCE sustains above 7100, traders can buy for the following targets: 7524 – 7756 – 7921. Although prices are moving forward, we should not take a blind entry.
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thanks for the important information…
This setup is acceptable to me. Please keep it coming!
Remarkable work!!! Immediately followed.
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101% agree 👍
Well done mate! The area that you have pointed out looks very strong.