Updated chart attached with enlarged view to understand the 2 and 5 SMA.
As mentioned last week Nifty 50 made a vertical fall and vertical rise from Last Friday Close.
""From the chart it seems we have already made the bottom or within next 100-200 points NS - can make a bottom with
quick fall and rise. ""
Now it can be seen in the chart NS 50 already closed above 5 SMA today and need one more close above 5 SMA. By that time
the 2 SMA also will cross over the 5 SMA to signal the reversal of trend, as mentioned here earlier. This wave can get
terminated arouond 10900-11000 level and another fall can be expected towards 10200 area +/- 200 points. There
can be one more possibility of NS 50 return from 10900 to 10400-500 range and start its upward journey again towards
the ATH or above. This we will analyse before the event starts based on MACD and SMAs.
A few questions received regarding the timing of this 4th wave completion and the answer is it is not easy to time
the market and none of us are aware of the events to be unfolded as of now. However without changing as on date status
minor adjustments are made in the 4th and 5th wave lines to bring it closer to the time frame as I see as on today.
To sum up watch out for the 2 and 5 sma action together with MACD and its signals closely, to get the feel of the market,
leaving apart the events to be unfolded.
Somebody has asked for the BN view. It seems the BN will be the front runner this time and as we can see today it was
waiting for the NS 50 to catch up. Expecting BN to reach anywhere between 26500-800 by settlement.
The above view is purely educational and may not be good for trading. Please take the opinion of your Financial
Advisor before any trade. Any trade taken on above view is entirely at the risk of the trader.
As mentioned last week Nifty 50 made a vertical fall and vertical rise from Last Friday Close.
""From the chart it seems we have already made the bottom or within next 100-200 points NS - can make a bottom with
quick fall and rise. ""
Now it can be seen in the chart NS 50 already closed above 5 SMA today and need one more close above 5 SMA. By that time
the 2 SMA also will cross over the 5 SMA to signal the reversal of trend, as mentioned here earlier. This wave can get
terminated arouond 10900-11000 level and another fall can be expected towards 10200 area +/- 200 points. There
can be one more possibility of NS 50 return from 10900 to 10400-500 range and start its upward journey again towards
the ATH or above. This we will analyse before the event starts based on MACD and SMAs.
A few questions received regarding the timing of this 4th wave completion and the answer is it is not easy to time
the market and none of us are aware of the events to be unfolded as of now. However without changing as on date status
minor adjustments are made in the 4th and 5th wave lines to bring it closer to the time frame as I see as on today.
To sum up watch out for the 2 and 5 sma action together with MACD and its signals closely, to get the feel of the market,
leaving apart the events to be unfolded.
Somebody has asked for the BN view. It seems the BN will be the front runner this time and as we can see today it was
waiting for the NS 50 to catch up. Expecting BN to reach anywhere between 26500-800 by settlement.
The above view is purely educational and may not be good for trading. Please take the opinion of your Financial
Advisor before any trade. Any trade taken on above view is entirely at the risk of the trader.