New impulse in NIFTY FINANCE should drive it well above 22K mark

neeraj_2_sharma Updated   
NSE:CNXFINANCE   Nifty Financial Services Index
The FINNIFTY index looks all geared up to start a 11-13% rally in the coming weeks to move towards 22700 levels.
The expected wave shall be the wave iii of III.
After having rallied in wave i of III in oct 2023, the index has witnessed a 61.8% retracement in months of jan-feb 2024.
Now since the triple three correction(WXYXZ) has been complete structurally, the index is once again back to its bullish phase and hence the expectation of the next bull leg.
19800 remains a crucial support for the index while 22700 remains the expected target level.
SL trailed to 20290
SL trailed to 20390

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.