Hello and a warm welcome to this analysis on Nifty
In lower time frame Nifty appears to be in sub wave 4 which might complete between 18200-18300 and then resume another rally.
A confirmation of sub wave 4 done would be it sustaining above 18500 for an hour.
Its advisable to use the up coming resistance around the upper trend line to book profits in the coming terminal waves.
The view would be wrong if it starts breaking below 18200.
In lower time frame Nifty appears to be in sub wave 4 which might complete between 18200-18300 and then resume another rally.
A confirmation of sub wave 4 done would be it sustaining above 18500 for an hour.
Its advisable to use the up coming resistance around the upper trend line to book profits in the coming terminal waves.
The view would be wrong if it starts breaking below 18200.
Trade closed: stop reached
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