Nifty Daily Chart
Now every body is comfortable with the present state of the Nifty. Common people started to believe that market is strong enough to enter.
Nifty Daily Chart
All kind of indicators are showing green up-arrow in the chart (Bullish in nature). Nifty is still below the overbought zone with excellent liquidity.
Nifty Daily Chart
But Harmonic AB=CD pattern is silently following the upper limit of Nifty everyday.
Therefore my comment is that now we have to be more careful about our invested money. All traders are in long position (Big and Small). At the level of 5700, Big players will try to deceive small players. Smart money (chart is not being posted due to copyright) is being ready to be taken off from the market at any time. Therefore we have to use our best weapon to protect our money from big and smart players. We can use 5600 as a stop loss. Profit booking can be done at the level of 5700 to 5730.
Our entry point was 5372. Therefore it is around 350 points possible profit if you are a future player. Shorting can be initiated below 5550.
I want to hear your comments on my posting to make more clear cut analysis.
Best of luck.
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