Nifty Future for Week August 11-15 - Rakesh Chandra

Last week I expressed our view that 4600 and 4800 is the upward channel line , and the market behaved in the same way. After taking a dip the Nifty future is ready to go 4800. From a trading point of view, booking profit at the upper trend line is a good idea, and buying again on a dip.

Weekly higher targets are as follows:

Upwave (4-5) WUT3: 4,793;
Upwave (2-3) WUT2: 4,730;
Upwave (0-1) WUT1: 4,630.

Price is bullish above 4,567.25, which is a weekly pivot point.
Price is bearish below 4,528.75) which is a weekly pivot point.

Weekly lower targets are as follows:

Down wave (0-1) WLT1: 4,466;
Down wave (2-3) WLT2: 4,366;
Down wave (4-5) WLT3: 4,303.