Nifty analysis for 18/04/19


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Nifty posted green candle above red line for 2nd day. So breakout is almost confirmed. Only today's close is important. If today it closes above red line then we can say further major up move has started. Its count as per Elliott wave will be 3 of 3 of 3 of 5 of 1 of 5 as per my counting. And as per rule wave 3 is never short. Wave 1 amplitude was 450. So we can expect minimum of 450 rise from the low of 11549 posted on 08/04/19. So target comes out to be more than 11999. Let us observe for these figures.

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