Spot Nifty Intraday Chart - 1 min:Spot Nifty formed a Bearish Wolfe wave in 1 min time frame and reached its target in intraday itself. Above is the 1 min Spot Nifty chart marked with bearish Wolfe Wave.
Nifty Chart - Hourly:Nifty almost reached the second target of 5050 level yesterday, it missed with 2 points as Spot Nifty formed a bearish Wolfe wave it retraced back. But the retracement was on high volumes, which is giving a small hint that there may not be a smooth up move from here.
On the higher side Nifty may take resistance from 5100 level, but 5050 may act as intermediate resistance.
On the lower side Nifty may take support from 5010 - 5000 level, if Nifty breaks these support levels then it may show some bearishness. So moving the stop loss for the remaining holdings to 4992 level.
3 comments:
hi doji,
nifty forming bullish abcd from yesterday high in 5 mins chart?
Cheers
Pradeep
Hi pradeep,
Nifty didn't form any Bullish ABCD pattern in intraday till 11:35
Doji
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