Nifty 50 IndexLong
nifty analysis
Updated
I am Going Bullish at every Dip on the Index. Since it is difficult for Me to track each and every stock, I am putting down my view on the Index Only.
The Rise from 15200 to 17992 Must be Labelled as wave 1/5. What we are currently going through is a wave 2/5 down. This typically will be an ABC wave ( subdivided into 5 minor waves). To Me the zone of 17310 to 16900 should HOLD. Usually, Minor 2's DO NOT retrace more than 38% of wave 1, OR in the Worst case Scenario, 50% of wave 1. Thereafter we should make a DASH for the SWEETEST wave 3/5, wherein, wave 3 MUST be equal to OR More than the Length of wave 1. 4/5 will typically NOT retrace more than 38% of the Length of Wave 3/5. Now here is the Interesting part, BE CAUTIOUS when we are Done with the TOP of wave 3/5. In my experience, Typical Bear Markets have a SET PATTERN, as was in 2004-06 ERA. Distribution takes place at a 50% Rise of Wave 3, and is more or Less Complete by the Time wave 4/5 hits a Bottom. The Last wave 5/5 to make a """5""" TOP, is a wave with an EXTENDED TIME span and will usually ATLEAST equal the Length of Wave 1. However, Since the LAST of the DISTRIBUTION is done here, The BEARS will LURE everyone by taking Markets Higher than expectation.
Being Frightful is not an Option when you are in the Markets.
The Rise from 15200 to 17992 Must be Labelled as wave 1/5. What we are currently going through is a wave 2/5 down. This typically will be an ABC wave ( subdivided into 5 minor waves). To Me the zone of 17310 to 16900 should HOLD. Usually, Minor 2's DO NOT retrace more than 38% of wave 1, OR in the Worst case Scenario, 50% of wave 1. Thereafter we should make a DASH for the SWEETEST wave 3/5, wherein, wave 3 MUST be equal to OR More than the Length of wave 1. 4/5 will typically NOT retrace more than 38% of the Length of Wave 3/5. Now here is the Interesting part, BE CAUTIOUS when we are Done with the TOP of wave 3/5. In my experience, Typical Bear Markets have a SET PATTERN, as was in 2004-06 ERA. Distribution takes place at a 50% Rise of Wave 3, and is more or Less Complete by the Time wave 4/5 hits a Bottom. The Last wave 5/5 to make a """5""" TOP, is a wave with an EXTENDED TIME span and will usually ATLEAST equal the Length of Wave 1. However, Since the LAST of the DISTRIBUTION is done here, The BEARS will LURE everyone by taking Markets Higher than expectation.
Being Frightful is not an Option when you are in the Markets.
Note
I MAY have to RE-LABLE this current wave 1 as 2 possibilities exist.1. That we are done with wave 1 up and 2 down is in play.
2. That we are not done with wave 1 up as yet, and so this wave MAY JUST be labelled as 3/1 of 5, hence this wave down is a 4/1, and another wave UP will complete WAVE 1. Thereafter we will come down in wave 2
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