On top of an impulse wave, a huge gap up and, there are two spinning tops on top, is a perfect ground building for an Island reversal, I am not predicting it/ it is too early to call it that way. If you see a gap down any day now without making a new high, be sure, we will witness an island reversal. Now it is just a potent situation that warrant our attention. Also the signals showing divergence , so it may happen.
I am not interested to post anything vague for falls fame, but there was many questions, to take short positions. I said Big NO to them, and cautioned them, it is unsafe to go against the trend, and cannot be done until we get a strong signal of reversal. Especially the bullishness in wave 3 cannot be measured with any Fibonacci scale.
We are unknown friends, but it is painful if any of you lose money due to a miss communication or due to our ignorance. Time and again I was also advocating a bullish view. If you don’t understand the time frame reading this message is quiet Difficult. Now we may correct few 100 points, But we must be BULLS until we see minimum 10855 in nifty. So please be watchful for the moves. The external influences are still supporting the bulls. Did you get me please??
Just one more question sir ! in current Wave there are already 3 Gaps and the last gap looks like Exhaustion gap, is it indication of end of minor wave ?
padiyara
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@HappyVijay,
I have a similar view, the current Gap could be an exhaustion gap, at the end of minor wave.
we may see a correction to 8740 at least.
HappyVijay
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@padiyaraa, Oh Thats great Sir! and i hope the correction will be impules wave isnt it ! Sir will there be support @ 8940 where market gaped Up 150+ points on 14th March !
@HappyVijay,
This count is also can be right as it doesnt break any rules, but bracketed iii doesnt show the personality of wave (III).
Inner waves reduces the clarity. let us wait for the current move to conclude, then more clarity will emerge.
HappyVijay
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@padiyaraa, Thank you very much Sir :)
HappyVijay
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Sir Just for Disscussion purpose can you clear my doubts ! I agree its bull move but the slight suggestion of mine can u check the Wave counts ! Wave (iii) is noet even equal to Wave (i) So may be we can say its Extended Wave (v) is currently going on which is started @ 8712 and looks like Wave 3 of Wave (v) is happening with massive gaps ? So may be divergence is showing because Wave 3 of Wave (v) is about to end ? and so after complex wave 4 it will go up for its final Leg ........... Please Explain
Comparing the size of 3 as such marked in black circle above attached, I am not supposed to do that, but just for a discussion, assuming, that much minimum it can move.
That is why, I have labeled a minute and minuette wave fractals with in 3, hoping a long wave.And I have mentioned that may be ninute iii still in progress,
see the Question marks near to the labels??? So that count is not clear & incomplete without knowing the degree of the inner waves .
Hopes that you are discussing 3 of (5) as I labeled here.
With in 3, wave is in progress, or will it conclude with only one lesser fractal, is not yet known. If we take that way, then internal iii of 3 is still progressing and extending, and v is yet to be started. The jumping gaps are wave iii personalities, what you observe is right.
Or the other way, if it is v completing means , it is a lesser degree v ,and that conclude then [ii] will open down.
By the way,You are mentioning complex wave 4 is too far, if you are discussing all degree and time frames in one thought, we will mess up everything.
padiyara
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******With in 3 wave [I] is in progress, or will it conclude......
in.tradingview.com/chart/aE4LwgfH/