Nifty Correction - Continued - Triangle Correction - Update
Hi
This is a 2 Hour Chart. I have already quoted that this might be a triangle correction.Have given the link for the same.
In this triangle correction...Wave 1 and Wave 2 is completed (It has 3 wave structure inside it).
Now in this Wave 3....Currently Wave A is going on....which might get completed near 16950 - 16800 range...and then we will have a B Wave which might go till 17600 - 17750 range. And from there we will have one more down move C wave which might go till 16200 approx.
Current 2 Hour Macd is showing Divergence and the 1 Day Macd is above zero line, which is still bullish.
Lets find out, where it shows support.
As per me, the current Downmove of A wave might get completed by tuesday near 16950-16800 range.
Will keep on updating this wave structure, untill n unless something totally different turns up.
Neo
This is a 2 Hour Chart. I have already quoted that this might be a triangle correction.Have given the link for the same.
In this triangle correction...Wave 1 and Wave 2 is completed (It has 3 wave structure inside it).
Now in this Wave 3....Currently Wave A is going on....which might get completed near 16950 - 16800 range...and then we will have a B Wave which might go till 17600 - 17750 range. And from there we will have one more down move C wave which might go till 16200 approx.
Current 2 Hour Macd is showing Divergence and the 1 Day Macd is above zero line, which is still bullish.
Lets find out, where it shows support.
As per me, the current Downmove of A wave might get completed by tuesday near 16950-16800 range.
Will keep on updating this wave structure, untill n unless something totally different turns up.
Neo
Now can we have a upmove till 17600 approx??