This week nifty may break 18350, and this level will increase high buying pressure.
The above chart shows that nifty seems price is forming a leading diagonal. Moreover, wave 5 is the ending point of the leading diagonal.
And completion of wave ‘i’ the wave ‘ii’ will take place. The wave ‘ii’ is corrective. So the day traders can initiate buy position there. It’s a golden opportunity because of moderated risk here.
Safe intraday traders can enter at the breakout of wave i. This point is also initiating an opportunity. If the acceleration phase is sturdy, then It can hit 19200.
Please note that wave ‘2’ can never overlap the starting point of wave ‘1’.
LockPlease log in to read the entire text. If you don’t have a login yet, please subscribe now to get access.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
