Nifty crosses the important hurdle.

6 Mar

Nifty has crossed the trend line of the diogonal.
next important level 22522.
remember if crosses above 22600
the diogonal structure will be nagated.
where the 3 rd wave will be shortest than 1st and 5th wave
and upside will be open to more than 22700.
As such looking at the overall structure starting from october23
nifty target above 22522 comes to 22750.
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6 Mar

Not

6 Mar

Not

3 rd wave can not be shortest in a dional,so 5 th wave should not exceed 22594.

7 Mar

Not

8 Mar

Not

nifty future closing price was 22552.Now gift nifty is trading at 22686.So difference is around 130 points.Nifty closing price was 22493.Hence there is likely gap up on monday if this is maintained.To what level??Bears are trapped .Above 22590 the wave 3 of the diogonal will be shortest which should not be.That will negate the diogonal or rising wedge what ever you may call it.

12 Mar

Not

12 Mar

Not

invalidation in Gift nifty.wave 1 and 5 are larger than wave 3.