NIFTY GOING TO GO UP

Nifty is now forming a consolidation triangle which is constituted by 5waves. If this is completed than we are going to have a very dramatic reversal or the start of new BULL MARKET for NIFTY. The low of this triangle is 4400 to 4450 which is most likely to form by the 5 wave.

fibonacci 61.8%

Now nifty bounce back from the TWEEZER BOTTOM pattern of candlestick chart, which is having a support from the long term trend line support which I have post before.
The odds are that nifty is likely cross the 61.8% retracement and 100 DMA which is at 5110 and 5120 level. If these levels is crossed then target of nifty is 5200-5300.