From 15511 an impulse wave is started and in that impulse wave iii is not extended(means projected less than 161%) that is why wave v should be extended as per the rule of alteration. So wave v started from 16438 is extended after breaking above 17205(61% projection of wave v). Now Nifty may decline towards support range 16948-16675 from given resistance range. 16675 is downside breakeven point for Nifty.
Nifty proving your counts yet again!! Here's a lil something from an EW beginner - wait for approx 17800 and buy October Puts (17500) there..And don't trade and don't make new wave counts!! All the loss that you or anyone following your counts would have made shall get covered!!
practicalbull.mmb
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@PracticalBull.mmb, Also, please note I have mentioned October puts - The reason is there's a strong possibility that Nifty's final top will happen around 18100 levels.. So if we are taking Oct puts, there'll be sufficient time available for Nifty and Bank Nifty to crash and fill our coffers!! I am not an EW pundit like the people on this forum - I just trade using ranges and this is my view based on ranges..
xvanjali
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Can you analyze it in different time period. 2hr is not applicable for intraday trader. So 3/5/15min please. It will help more.
sarf000777
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bhai hamne bank nifty BUY kar Ke sahi Profit kar lia
Here's a lil something from an EW beginner - wait for approx 17800 and buy October Puts (17500) there..And don't trade and don't make new wave counts!! All the loss that you or anyone following your counts would have made shall get covered!!