AbhishekHSinghCMT
Short

INP - India ETF - Got the jump in wave-ii -Mirror to India Nifty

AMEX:INP   None
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7
186 8
I especially try not to catch a running vehicle as it is always scary & you may fall on your face. From previous update we expected an up move for this wave-ii to complete & happy that the job is done- Bang on Target!

ETF's - Exchange Traded funds
An ETF , or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold.

Once India ETF falls below 60 & 53 - Bulls be careful

Waiting for the giant move down in wave- iii

Previous Analysis - India ETF 2016 Diary- Mirror to India Nifty
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
1) Could move could go on to touch the trendline at 75 as an A-B-C move with B where you have marked i?
2) If this triangle is a wave 4 then, could also break on the upside and could go on a long term bull market. What makes you sure that it would break on the downside?
3) Currently it is trading at 70.77 very close to the invalidation point of 72.24.
Reply
AmitKumareb AmitKumareb
@AmitKumareb, Also the move marked was neither an impulse nor a leading diagonal.It looked like a complex correction. So you should mark it as A or W.
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@AmitKumareb, I have marked A Circled & B Circled as Triangle -which was assumption & Circled down move.
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AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, C - Circled Down Move
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AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, or E-Wave is complex can internally be abc structure.
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@AmitKumareb, It could be bull market if goes above 78.32 which is C-point & if crosses above 72.24 then current structure invalidates but for sure this is some corrective pattern & we wait for breakouts either above 78.32 or below 60.
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ur analysis vv much helpful for me
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@VimalVashisth, Welcome
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