Today nifty in the opening bell completed Y.b just a tick above 5873.80 and didn't continued as expected (upto 5884-86 max 5904) made new low via Y.c (5825) which posted positive divergence on 5 mins chart..
Now criteria for long is fulfilled and I hinted yesterday to create long below 5836 slowly. Hope the oppurtunity might be utilised to create longs.
Now create longs on dips 5835-45 levels with SL 5834 for targets above 5900+.
This expanding triangle wave e can be any form (mostly double zigzag) and will do 5971+...
This triangle view will get violated below 5816...
As E not yet formed it is difficult to tell pattern but it will do min 5971+...
Before Budget 5971+, after budget who knows might be free fall... Will be able to tell only end of this wave corrective impulse..
Hourly divergence will give clue for end of this upmove..
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