Last two days development
Nifty broke out 15900. Buying opportunity was at 15700-15800 levels for possible targets of 16000-16100, given you are 200-250 points already in the money so you have not much to lose even if risking for 16000 -16100.
Wave Theory suggested an ongoing diametric pattern of wave G. So wave theory suggested possibly the last leg of up-move
The stop loss was 15740, volume profile chart, point of control, that magnet will act and will pull price towards it supported the view.
If Nifty breaks 15800-15850 level, then breakout was false. As soon as 15800 was broken, there was a magnet at 15740 which will act and will try to pull the price.
15660 – 15960 , wave G took 5 days was taken out in just 2 days
If it breaks 15500-15450, then target will be 14850 based on
There is huge Open Interest at 15500 put and call at 15800
Monthly/ Weekly lows are broken, if it breaks 15500 then 14860 levels will be tested based on Fibo, Wave Theory and Candle Stick, Open Interest, Volume Profile, Ichimoku Cloud
Triple Corrective Pattern
Lower BB and RSI Divergence, Volume Profile 15750 Point of control as magnet, Huge OI buildup
Hang Sang LH LL
DAX broke below BB
Dollar Index Rush for safe Haven , is rising
INR has started depreciating
Copper
Gold No indication
