Nifty is looking Bullish and can hit 23900 and 24600
تم تحديثه
Reason for Going Long in Nifty:
Wave Analysis:
Nifty is rising gradually in a 12345 wave pattern after a quick crash on June 4th. Wave 4th was a time-wise correction and spent one week in a small range.
Target:
The 127% Fibonacci level is our first target. If Wave 5 extends, we can aim for 24600 too.
Stop Loss:
We will exit the long position if a 1-hour candle closes below the Ichimoku Tenkan-sen (TS) and Kijun-sen (KS), which is around 23450.
If prices closes below 23400 then we have to recount it as a wave B and we can go for a Wave C down move.
Weekly and Monthly Fib channels also suggesting long.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Wave Analysis:
Nifty is rising gradually in a 12345 wave pattern after a quick crash on June 4th. Wave 4th was a time-wise correction and spent one week in a small range.
Target:
The 127% Fibonacci level is our first target. If Wave 5 extends, we can aim for 24600 too.
Stop Loss:
We will exit the long position if a 1-hour candle closes below the Ichimoku Tenkan-sen (TS) and Kijun-sen (KS), which is around 23450.
If prices closes below 23400 then we have to recount it as a wave B and we can go for a Wave C down move.
Weekly and Monthly Fib channels also suggesting long.
Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
تم فتح الصفقة
Our Still survived:It's 11:15 AM (June 19th ), we mentioned in the description that as per ichimoku 1 hour candle close below both TS & KS is our exit.
Bulls managed to close the price above TS so no need to exit in panic. Let's bears prove us we are wrong then we can give up.
ملاحظة
Nifty has underperformed today compared to Bank Nifty. Let's see how it goes from here; our bullish view remains the same.Here is the updated TSL: a 1-hour candle close below 23,480.
ملاحظة
Time: 11:00 AM, June 20th, 2024Our SL is still alive. The first one-hour candle has not yet closed below 23,480, so we can continue holding our longs.
Regards,
Team WaveMoku
ملاحظة
Time 7:14 am, June 21st 2024Nifty is opening flat again, our TSL is one hour candle close below 23530.
تم إغلاق الصفقة يدويًا
We are closing near Cost to Cost. Nifty failed to sustain our levels.
إخلاء المسؤولية
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