Splendid recovery and levels to watch.

13 Oca

Analysis is from december21st,23,when the up move
was started.In the same month it made all time high.
of course yesteday nifty has surpassed that.After
that nifty had undergone retracement for 4 th wave
which was time consuming and it terminated at w=y.
next up move started from wedness day 10 th january
and it has a spectacular run of more than 450 points.
It is likely to be stiff resistance at 21958-21985,
if crosses then next resistance zone is 22057-22097.
Nifty is likely due for a pull back after the completion of this wave.Of course if this wave is extended may surpass these levels.Pleas go through my
other posts in trading view.
Do follow me to get updates.Like this post if it helps you.May update weekly chart to have an idea for
long term.Please disregard the numbers before 21 dec as they are not parts of this shorterm updates.

14 Oca

Not

14 Oca

Not

This is weekly chart.Hourly chart involves lot of noises.And very short term supports and resistances.
In weekly chart we can get a glimpse of overall picture.There is double bracketed 1,2 are there because
2nd bracketted 1,2 can not be market as bracketted 3.4
as in that case 3 wave will become shorted than 1 st wave.So now nifty is progessing in 3 rd wave.Usually 3 rd wave should terminate at 22806.That is normal value.But in some cases in terminates before that.
Here we are talking about 3 rd wave still 4 th and fifth are left.Please go through my other post of nifty " bullish out look" published in trading view.

14 Oca

Not

Sorry in th above chart wrongly placed bracketted 1 in place of bracketted 2..

15 Oca

Not

15 Oca

Not

nifty has crossed the strong resistance,next target as shown in the chart