Sunday, May 10, 2009

Bulish Wolfe Wave in Nifty Futures

Nifty futures formed a Bulish Wolfe Wave, as you can see in the chart below.


Entry has already triggered for this, when the 1-3-5 support line is taken up after point 5. The price should follow the target marked by 1-4.

Entry: Above 3610
Stoploss: 3580
Target: Follow the price movement along the 1-4 line.

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