I don’t have anything new to write about Nifty today other than what I have already written for the last two days. We still maintain the status quo. Just out of curiosity I am posting below the hourly chart of Nifty with a different perspective. We have a pair of HH and HL in place. If we break the HL (4503), one can take short position with a stop above 4580. Other wise the following chart is a study in Price Pattern. We have a rising wedge coupled with a bearish Wolfe Wave. The target of this WW is near about 4070! This of course is only possible if Price pierces through our supports of 4370 and 4250 like hot knife through butter!!! Nay I aint screaming Short but just presenting a view…..an alternate view!
"Scream Short"..if your bearish wolfe wave and rising wedges gives you the intuition..until the market talks you out of it..
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