NIFTY IS STILL CONFINED WITHIN A 4TH WAVE FLAT AFTER MAKING A 3RD WAVE HIGH OF 5956 AND THIS FLAT MAY CONTINUE FOR A DAY OR TWO MORE WITH THE THURSDAY OR FRIDAY INDICATING A BREAK OUT OF THE 4TH WAVE FLAT. THE NEW WAVE WHICH STARTED FROM 28TH AUGUST LOW OF 5119 WENT UP TILL 3RD SEPTEMBER HIGH OF 5579 AS THE 1ST WAVE, CAME DOWN TILL 5323 AS THE 2ND WAVE, THEN MADE A HIGH OF 5929 AS THE 3RD WAVE. THE PRESENT FLAT IS THE 4TH DAY OF CONSOLIDATION WITH THE HIGH OF 5957 AND LOW OF 5797 & THIS ZONE MAY CONTINUE FOR SOME DAYS TILL A DECISIVE BREAK TAKES PLACE IN ANY DIRECTION.
THE 4TH WAVE FLAT GENERALLY SHOULD BREAK OUT ON THE UP SIDE, EVEN THOUGH THERE MAY BE MANY A TIMES BREACH OF THE HIGH OR THE LOWS TO TRIGGER STOP LOSSES. SO FOR WEDNESDAY ALSO THIS FLAT MAY CONTINUE WITHIN THE TIGHT ZONE OF 5878 SPOT ON THE HIGHER SIDE AND 5804 SPOT ON THE LOWER SIDE WITH ONE OR TWO
TIMES THREATENING BREACH OF EACH SIDE TO TRIGGER STOP LOSSES TO STILL REMAIN CONFINED WITHIN THE BIGGER FLAT ZONE OF 5957 SPOT ON THE HIGHER SIDE & 5797 SPOT ON THE BOTTOM SIDE.
FOR INTRADAY TRADING OF NIFTY FUTURES WHICH HAS CLOSED AROUND 5883 NEAR THE HIGHEST POINT OF THE DAY NEEDS TO MOVE UP ABOVE 5902 TO 5909 FUTURE ZONE TO CLOSE A 30 MINUTE CANDLE ABOVE IT THAT MAY SEE WEAK BEARS COVERING THEIR SHORTS WHICH MAY PROPEL NIFTY FUTURES TOWARDS 5919 TO 5925 ZONE. ONLY SUSTAINING ABOVE 5919 TO 5929 MAY SEE HIGHER LEVELS TOWARDS 5949 OR EVEN 5989 FUTURE LEVELS.
A FAILURE TO INCH UP TOWARDS THE 5902 TO 5909 FUTURE ZONE MAY ENCOURAGE SHORTERS TO HAMMER THE BULLS OUT OF SHAPE. SIMILARLY ON THE LOWER SIDE A SLIDE BELOW 5858 MAY PULL NIFTY FUTURES DOWN TOWARDS 5845 TO 5840 ZONE, SUSTAINING BELOW WHICH MAY SEE BULLS RUNNING AWAY TOWARDS LOWER SUPPORTS OF 5818 FOLLOWED BY EVEN SUB 5800 LEVELS TOWARDS 5780 TO 5775 FUTURE ZONE .
THE 4TH WAVE FLAT GENERALLY SHOULD BREAK OUT ON THE UP SIDE, EVEN THOUGH THERE MAY BE MANY A TIMES BREACH OF THE HIGH OR THE LOWS TO TRIGGER STOP LOSSES. SO FOR WEDNESDAY ALSO THIS FLAT MAY CONTINUE WITHIN THE TIGHT ZONE OF 5878 SPOT ON THE HIGHER SIDE AND 5804 SPOT ON THE LOWER SIDE WITH ONE OR TWO
TIMES THREATENING BREACH OF EACH SIDE TO TRIGGER STOP LOSSES TO STILL REMAIN CONFINED WITHIN THE BIGGER FLAT ZONE OF 5957 SPOT ON THE HIGHER SIDE & 5797 SPOT ON THE BOTTOM SIDE.
FOR INTRADAY TRADING OF NIFTY FUTURES WHICH HAS CLOSED AROUND 5883 NEAR THE HIGHEST POINT OF THE DAY NEEDS TO MOVE UP ABOVE 5902 TO 5909 FUTURE ZONE TO CLOSE A 30 MINUTE CANDLE ABOVE IT THAT MAY SEE WEAK BEARS COVERING THEIR SHORTS WHICH MAY PROPEL NIFTY FUTURES TOWARDS 5919 TO 5925 ZONE. ONLY SUSTAINING ABOVE 5919 TO 5929 MAY SEE HIGHER LEVELS TOWARDS 5949 OR EVEN 5989 FUTURE LEVELS.
A FAILURE TO INCH UP TOWARDS THE 5902 TO 5909 FUTURE ZONE MAY ENCOURAGE SHORTERS TO HAMMER THE BULLS OUT OF SHAPE. SIMILARLY ON THE LOWER SIDE A SLIDE BELOW 5858 MAY PULL NIFTY FUTURES DOWN TOWARDS 5845 TO 5840 ZONE, SUSTAINING BELOW WHICH MAY SEE BULLS RUNNING AWAY TOWARDS LOWER SUPPORTS OF 5818 FOLLOWED BY EVEN SUB 5800 LEVELS TOWARDS 5780 TO 5775 FUTURE ZONE .
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