- Nifty Future has developed positive divergence in MACD
- Taking support at 38% retrenchment of long from 4531 to 4630
- If this is really a bull market then a flag formation in bigger horizon has been developed and poised for breakout.
- As per EW analysis, Nifty future has completed "C" of corrective wave II
Bulls task is to protect 5200 level for survival. Half task has been already completed by closing above January high, now we can expect more up move in coming month. My target is 5900 before August in the hope of rate cuts from RBI.
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