Nifty Impulse Rise - Is This Start of BULL Market?
Mar 26, 2025
Neo wave is the GPS of the market and it helps to understand the maturity of trends and shows the path ahead.
Below is the chart of Nifty showing the possible path ahead of Nifty using Advanced methods like Neo wave and Fibonacci tools.
Nifty Hourly chart as on 26th March 2025.
Nifty have managed to show profit booking after reaching near 23860 levels. The sharp rise has taken a pause and we now expect profit booking to extend until we see a close above prior day’s high which give us a classic buy setup.
Nifty is currently moving in an impulse pattern. As per Neo wave, the recent rise has now taken out the entire fall of wave g in faster time that confirms upside reversal as per two stage confirmation technique. Also, this can be impulsive rise and we are now in wave iv. Post its completion we can expect up move to resume in form of wave v.
Currently, prices have retraced more than 23.6% of wave iii. The next important target as per Fibonacci series comes around 38.2% i.e. 23300 levels. On the upside, 23850 levels is the nearest hurdle to watch out for!
In a nutshell, Neo wave helps to understand the maturity of trend and forecast the probable path. One needs to ensure to follow the rules of Neo wave to trade with high conviction!
As of now, next important key support for Nifty is at 23300 levels. A breach below it will be a sight of concern. On the upside 23850 is the crucial resistance.
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