Nifty achieved the minimum target set at 10,339 but has languished at around 10,300 levels. Let us look at possible scenarios now,
Scenario 1 : The blue line where Nifty completed an a-b-c at 10,295 and started a new wave and will continue the uptrend
Scenario 2 : The red line where Nifty is undergoing an ir-regular A-B-C which will complete closer to 10,240 odd levels after which Nifty will continue the uptrend
Scenario 3: The green line is not possible as the 3rd wave is the shortest so ignore that possibility
Now we only have scenario 1&2 to look at. Either way Nifty's uptrend is still intact and look to buy on dips with targets set at 10,500 + levels in coming days with maximum stop loss set at 10,240 if Nifty is undergoing an ir-regular correction if not 10,295 is enough to contain the downside.
Good Luck
Scenario 1 : The blue line where Nifty completed an a-b-c at 10,295 and started a new wave and will continue the uptrend
Scenario 2 : The red line where Nifty is undergoing an ir-regular A-B-C which will complete closer to 10,240 odd levels after which Nifty will continue the uptrend
Scenario 3: The green line is not possible as the 3rd wave is the shortest so ignore that possibility
Now we only have scenario 1&2 to look at. Either way Nifty's uptrend is still intact and look to buy on dips with targets set at 10,500 + levels in coming days with maximum stop loss set at 10,240 if Nifty is undergoing an ir-regular correction if not 10,295 is enough to contain the downside.
Good Luck