Nifty Ready for One more HIGH
🎯 Nifty Index Insight: Bullish Wave Formation 🎯
On the 1-hour and daily charts, we’re witnessing an impressive bullish sequence in the Nifty Index. We're currently in Wave 3 (Red) on the higher degree, and we've completed Wave ((iii)) (Black) on a smaller degree. Naturally, the next phase is Wave ((iv)) (Black), which offers a potential entry opportunity to ride Wave ((v)) (Black).
🔍 But here’s the key: Patience is crucial. Don’t rush into a position. Wait for a 3-wave corrective structure to form. The optimal entry point lies within the Blue Entry Zone, which is 100% to 161.8% of the first and second legs of the 3-wave corrective pullback structure.
🛑 Stop Loss Strategy: Set your stop loss at the 161.8% of the corrective leg. If the price breaks this level, it suggests a potential impulsive move to the downside, signaling a deeper pullback correction—time to exit.
Disclaimer: We are not SEBI-registered advisors. This content is for educational purposes only. Please consult your financial advisor before trading in the stock market. Assess your risk carefully—stock trading can result in significant capital loss. Remember, only 3% of traders consistently make money in the stock market, and achieving success requires immense hard work and discipline.
On the 1-hour and daily charts, we’re witnessing an impressive bullish sequence in the Nifty Index. We're currently in Wave 3 (Red) on the higher degree, and we've completed Wave ((iii)) (Black) on a smaller degree. Naturally, the next phase is Wave ((iv)) (Black), which offers a potential entry opportunity to ride Wave ((v)) (Black).
🔍 But here’s the key: Patience is crucial. Don’t rush into a position. Wait for a 3-wave corrective structure to form. The optimal entry point lies within the Blue Entry Zone, which is 100% to 161.8% of the first and second legs of the 3-wave corrective pullback structure.
🛑 Stop Loss Strategy: Set your stop loss at the 161.8% of the corrective leg. If the price breaks this level, it suggests a potential impulsive move to the downside, signaling a deeper pullback correction—time to exit.
Disclaimer: We are not SEBI-registered advisors. This content is for educational purposes only. Please consult your financial advisor before trading in the stock market. Assess your risk carefully—stock trading can result in significant capital loss. Remember, only 3% of traders consistently make money in the stock market, and achieving success requires immense hard work and discipline.
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