Nifty Future Weekly for Oct 6-10 - Rakesh Chandra

Nifty future on an hourly basis is close to completing its 5th wave down. Possible target for this down wave is 3629 max. It is advisable to buy at the lower levels.

Upwave (4-5) WUT3: 4,077;

Upwave (2-3) WUT2: 4,020;

Upwave (0-1) WUT1: 3,928;

WUT = Weekly Upper Target.

Price is bullish above the weekly pivot point of 3870.64;

Price is bearish below the weekly pivot point of 3835.36.

Weekly lower targets are:

Down wave (0-1) WLT1: 3,778;

Down wave (2-3) WLT2: 3,686;

Down wave (4-5) WLT3: 3,629.