Ascending Triangle Formation in Nifty Futures.
Just for Educational Purpose and Gaining Inputs from qualified professionals.
It seems to me a ascending triangle formation on Nifty. Today Nifty gave a False breakout in the form of Leg "E" of the triangle. Seems that First leg of "E" wave is completed and formation of E will take time for tomorrow as well.
A breakout above the trendline of BD, we can get a rally up for Nifty for 1000 points.
If Levels of 21600 in Nifty Future is protected, one can initiate the Long position and wait for target to be hit. 23000 on card for Nifty.
It seems to me a ascending triangle formation on Nifty. Today Nifty gave a False breakout in the form of Leg "E" of the triangle. Seems that First leg of "E" wave is completed and formation of E will take time for tomorrow as well.
A breakout above the trendline of BD, we can get a rally up for Nifty for 1000 points.
If Levels of 21600 in Nifty Future is protected, one can initiate the Long position and wait for target to be hit. 23000 on card for Nifty.