Our Invalidation Level-
20576 is very important from the structural point of view- as 2nd waves cannot retrace more than 100% of 1st waves & 1st Wave started at 20576- so, 20576 is a key .
in Wave -1 which has been retraced 80% in Wave-2 at current levels of 20283
This 2nd wave was amazing as it has seen roller coaster ride.
An Exciting Question- which has no end- So, let us continue- last night- in an unprecedented move from Income Tax Department across Delhi, Mumbai. Ludhiana, Chandigarh can shock the markets in the coming session of 11th Nov2016- well, it's too early to comment anything but if our key level@20576 holds on top- we shall look for another connecting piece of the market- which is a downside.
Last but not the least- suggested in earlier updates that this structure can deceive bulls- with no way to exit.
Hope you enjoyed the upside rally in C-wave
Last Price 19735
Bank Nifty- Brother of Nifty - Goes in the gap zone from the day's top amazing!
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ