After Breaking 23Nov Low of 17216 Nifty seems to be in a mood of making double correction and correct till 16110 so as to complete ((4)) black.
However Since ((w)) and ((x)) Blue connector seems small their is possibility of making a bounce to form a new connector. If it happens than will revisit the wave count so as to get the next New level for entry at ((4)) completion and carry position to en-cash wave ((5)) in Black.
This view supported by Dollar index move expected to make one more leg High before completing its 5 move up which started form 21 May, and than turning down .
Will be Long Nifty in range 16110 - 15733 with stop loss 15252 for Target of 19000 +
However Since ((w)) and ((x)) Blue connector seems small their is possibility of making a bounce to form a new connector. If it happens than will revisit the wave count so as to get the next New level for entry at ((4)) completion and carry position to en-cash wave ((5)) in Black.
This view supported by Dollar index move expected to make one more leg High before completing its 5 move up which started form 21 May, and than turning down .
Will be Long Nifty in range 16110 - 15733 with stop loss 15252 for Target of 19000 +
Comment:
Nifty Expected to Turn down from 17345 - 17422 Zone
Trade active:
Working line with views presented. Nifty after a relief 3 wave bounce expected to complete its last leg of ((a)) ((b)) ((c)) black zig zag correction
Working line with views presented. Nifty after a relief 3 wave bounce expected to complete its last leg of ((a)) ((b)) ((c)) black zig zag correction
Comment:
as long as nifty stays below 17808 our biasness of Nifty giving correction upto 16610 is valid. Once it breaks above our view is defeated and will need to revisit wave count.
Trade active:
Explaining why wave ((c)) further downside in NIFTY before turning High for making wave ((5)) in Black
Explaining why wave ((c)) further downside in NIFTY before turning High for making wave ((5)) in Black
Trade active:
FULL-ON-GRIP on trade.
Book 50% Profit and Modify Stop loss to Entry Level so as to make a Risk Free Trade
Book 50% Profit and Modify Stop loss to Entry Level so as to make a Risk Free Trade
Trade active:
Maximum Possible downside in NIFTY