Nifty

For those of you who are stuck in longs (stocks) there maybe some relief coming up.

This could be a potential possibility on the daily charts indicating 5900-6000. There are alternative possibilities on the daily chart as well.

This could mean that all of FEB will be up to a certain extent - March will be down?

However, we will work with the 15 minute / hourly charts to figure this out wave by wave.

I would expect the following to play out first. I've shorted @ 5470 & 80 spot and holding those now with a revised SL @ 5490 / break of that trendline.

Waiting for 5380 / 5340 (based on the sweetzone & Fibonacci %'s)

I would reverse my trade here & go long for targets possibly heading to 5550.