Nifty50: We are at The Cusp of a mega PRE-ELECTION Rally !!

NIFTY as per EW on hourly charts is suggesting that terminal 5th pattern is ongoing.

Short term correction is going on downside in form of wave 4 of Terminal pattern and then wave 5 can start which can be the final rally, you can also call it as a pre election rally before a major top is in place for 2024.

A meaningful top can be form after summer solstice which is due in June 2024.

The summer solstice marks an important change of season, when scientists describe the sun to stand still at a point in the horizon where it appears to rise and set, before moving off in the reverse direction.

This cosmic two-step stealth pattern, of a momentary rise, followed by a sharp reversal, is in-line with our bearish projected roadmap for the equity market, here and now.

We had also shared the diametric pattern outlook in our earlier forecast seems it will play out in late June.

So rally possible till election outcome followed by a meaningful top in late June.

Trade active

Comment:

21800 to 22300+ nifty moving as aticipated.

Comment:

21800 to 22600+

23k can come soon in early may series.

Trade closed: stop reached:

We have had good run up from 22177 time to book Profits, friday fall was not expected.