Some of the earlier posts lnks given above and you can see the date of post and what happened after that with the price bars updating.
Many members asking me the 4th wave is completed or what is the bottom........
The chart and markings can give an idea what my views are.
The 4th wave is not yet completed, though it has made the traders tizzy, and imagine if it has to continue for a couple of months more.
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.
Expecting from Tuesday onwards : 1) rise to 10900 area and fall again to 10000-9800 area 2) 10000-9800 area to 11100-11200 area 3) and visit again 9800 and rise again towards 15000+
We can see all the above are in line with the earlier posts for which links are given.
The above view is considering the mirror image and there can be marginal difference of 100-200 points in the area given. The MACD signals marked in orange boxes indicate, they reverse, when it reaches that area, as can be seen in the earlier instances.
The above view if for educational purpose only and may not be good for trading. Consult your financial advisor before taking any trade as the trades you take are entirely at your own risk.
Sir, if time permits please give your view for Bank Nifty as well. Although with weekly expiry it is highly speculative & manipulated.
ParimalDevnath
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Does the present slide -- furious down move look like a 4th wave??? Does it meet the nature of the 4th wave???
murthyonline
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@ParimalDevnath,
This is my view. There can be opposite views also. Market is supreme. Certain people understand in advance due to foresight. Some people understand the same thing after the event. That is life.
JatinLohade
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for fourth wave it should be 50% retrace of 2 to 3 wave that is 9300 of rally from 6800 to 11760
murthyonline
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@JatinLohade,
4th wave should not break high of 1st wave. In between it can come anywhere and take a turn.
VaniDugar
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Sir, Is the time horizon 8/10 months for this 4th wave ?
murthyonline
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@VaniDugar,
Timing market is not easy. Approx. We can consider 22 days on average for each sub waves marked in chart.