kbmj

Nifty : Probable Correction On Completion of Top at 'D'

NSE:NIFTY   Nifty 50 Index
Dear All , Nifty             is Forming A Channel from Last 4 Months And By Following the Channel And Applying Wave Theory on It , We can find that A Correction is Likely to be Seen Here . On Second Chart of Nifty             , The Price is Resisting Near the Upper Band which indicates A Correction in Near Term ... So Better to Wait for A Correction And Buy Good Mid-Caps And Small-Caps on 20-30% Discount ... Strategy for Nifty             is :

" Short At 10,775 For T1 : 10656 , T2 : 10504 T3 : 10440 With SL At 10850 "

Please Consult Any Technical Advisor Before Making Any Position ... Good Luck !!!
Trade active: Fell After Touching Mentioned Levels ... Open Interest is Rising while Nifty is trading in Discount ... Best Opportunity for A Corrective Move ... All Followers , Get Ready ... :)
Trade active: Formed the Top ... Time for A Correction ... :)
Trade active: As Indicated Earlier , Nifty formed A Top and Correcting as well ... Better to Avoid Fresh Entry ... :)
Trade active: Carrying the Stop-Loss at 10838 Levels And Still Nifty is in Corrective mood ... Rising Wedge Pattern is Obtained from Daily Charts ...
snapshot
Trade closed manually
Comment: We are still in Wave 'C' . No One Knows the End of this Volatility ... Let's See :)
Trade active: Top Completed ... Correction Ahead :I
slightly differ on the markings... Current rally is still C
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Thank You
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Yes from 10840 it will give reversal
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Wonderful analysis.
Now it has fallen before reaching 10775, so what do you think it will bounce back to 10775 then fall or else it will make a downward trend from here only.
Thanks
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kbmj TOP kumarguddu2353
@kumarguddu2353, Thank You ... A Fall is expected ... :)
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i thought we are in C wave from the move that stated at 9700 levels

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kbmj TOP Parasuram
@Parasuram, Yes Sir ... That would be Another Way to Analyse ... It is Only An Educational Analysis Only , Please Consult Any Advisor before Making Any Position ... :)
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@kbmj, i donot consult! i hear others point of view! i do trading on my own trading system
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kbmj TOP Parasuram
@Parasuram, Ok Sir ... Have A Great Trading Week ... :)
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it's a drangonfly doji..
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