Nifty - The Bat Unfolds It's Wings!! (Read Fully Before Acting)
In continuation to my Nifty update posted on 27th Feb, I'm getting inclined towards Scenario 1 mentioned in the update and the Alternate count mentioned in it, that we could be in Wave 2 (Wave count marked in Red) of a very large Wave A correction (NOT depicted on the chart).
If we zoom into Wave 2, it's unfolding as an irregular A-B-C pattern (Wave count marked in Orange) and we are currently amidst Wave C up of this pattern. Since as per rule, the 3rd Wave cannot be the smallest, I've labeled Wave (iii) where it is depicted in the chart (Wave count marked in Blue). So, a Wave (v) up may still be left to unfold (Caution for Day Traders who may be wanting to go Short), which may push the price up to 15337 which is 1.618 times Wave A (as depicted on the chart in Blue dotted line), thus completing Wave C and the irregular A-B-C pattern and from where Wave 3 down should commence.
Cheers !!
NOTE: This view will be invalidated if the prices cross 15350 with force.
If we zoom into Wave 2, it's unfolding as an irregular A-B-C pattern (Wave count marked in Orange) and we are currently amidst Wave C up of this pattern. Since as per rule, the 3rd Wave cannot be the smallest, I've labeled Wave (iii) where it is depicted in the chart (Wave count marked in Blue). So, a Wave (v) up may still be left to unfold (Caution for Day Traders who may be wanting to go Short), which may push the price up to 15337 which is 1.618 times Wave A (as depicted on the chart in Blue dotted line), thus completing Wave C and the irregular A-B-C pattern and from where Wave 3 down should commence.
Cheers !!
NOTE: This view will be invalidated if the prices cross 15350 with force.
Trade closed: target reached:
TARGET ALL SET TO BE ACHIEVED IN FLAT 4-5 TRADING SESSIONS !!
Folks, The Singapore SGX Nifty crossed my set target of 15337 earlier today, so hopefully, if all goes well, our dear Nifty too should reach this figure in the coming days.
Pls check for yourself, I came up with this analysis on 6th March to go Long, when the scenario and general consensus was Bearish. Many experts had written to go Short.
Recommending a Long in such a scenario takes courage which only comes after accurate assessment of Markets!
The result - A cool 400 pts profit on the Nifty in 4 days.
Enjoy!! And please do Like / Comment as a means of encouragement for my work. Also please Follow to remain updated with my Upcoming Ideas.
Cheers !!
Folks, The Singapore SGX Nifty crossed my set target of 15337 earlier today, so hopefully, if all goes well, our dear Nifty too should reach this figure in the coming days.
Pls check for yourself, I came up with this analysis on 6th March to go Long, when the scenario and general consensus was Bearish. Many experts had written to go Short.
Recommending a Long in such a scenario takes courage which only comes after accurate assessment of Markets!
The result - A cool 400 pts profit on the Nifty in 4 days.
Enjoy!! And please do Like / Comment as a means of encouragement for my work. Also please Follow to remain updated with my Upcoming Ideas.
Cheers !!