WaveTalks- Nifty: Bullish Gartley

29 de out. de 2021

The fall from 18605 looks choppy & messy suggesting that the index could have finished a part of the corrective structure at 17799 lows @ 28th Oct2021 if holds above that level.

Bulls & Bears will be locking their horns between 18605 high & 17799 low – a range of Approx of 800 points.
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Short Term Scenario
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• Index can bounce upside. Reasons for bounce
• Harmonic Bullish Gartley PRZ (Potential Reversal Zone) 17799-17850
• Triangle B-D line extended in the right direction (red color dashed line)
• Parallel Channel drawn from 18605 &18342 holds the current bottom at 17799 (lows-28th Oct2021)

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Short Term Targets
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Strictly Holding Above 17799 lows –Target 1(T1): 17950 / Target 2(T2): 18050/ Target 3(T3): 18125 / Target 4(T4): 18325

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Last Idea - Gap Strategy
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Thanks

29 de out. de 2021

Nota

09:27 Hrs / 29th Oct2021

Last @ 17672

Current Bottom - 17613.10 ---------------Wave-E Bottom ------------
Piercing The Channel Bottoms & Not Holding 17799 as suggested in the idea is a bad sign for Bulls.

Very Important Low - Wave E Bottom @ 17613 is extremely close - Small chance for Bulls - Only Risky Traders can trade keeping 17613 in mind.

If 17613 gets breached then the fall even extends down to the psychological level of 17500

29 de out. de 2021

Nota

11:05 Hrs / 29th Oct2021

Last @ 17907

Index bounced close to 300 points upside from 17613 - Wave E Bottom - Very Important Low

29 de out. de 2021

Nota

14:42 Hrs / 29th Oct2021

Last @ 17715

Piercing Candlestick pattern (Right at the Bottom)

A piercing pattern is a two-period, candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend.

Valid on any time frame. Higher Time Frame is always better.

Current Time Frame – 10 Mins

Result –
The index bounced 2nd Time from 17613 lows – The Most Important Level – Wave “E” Bottom of the Triangle which ended at 17613 @ 6th Oct2021

29 de out. de 2021

Nota

15:28 Hrs / 29th Oct2021

17613 - Most Important Level - How important was that level - 3rd Bounce

1 de nov. de 2021

Trade fechado manualmente

Thanks