Nifty Spot
Updated
The Last couple of days have been harrowing for some. I know how difficult it is. In as much as I said 23138-42 zone would hold, it didn't( I was wrong again ). But then on hind sight I went back to the charts and started to delve further to see what went wrong. Some of the waves are very complex in nature and can confuse you a lot. And that is what has happened with me too. I was looking closely at the 27 days,54 days and the 7 week cycles and the 54 day cycle did something I did not expect. Taught me a lot@ to be flexible in my approach.
However, I do say this. We are UNLIKELY to see MUCH FURTHER EROSION of the market currently, and that all the waves irregular as they may be have formed ONLY an """" A"" so far. the B up is pending, and I don't want to stick out my head again to say that it wont break the highs, alltough the possibility remains Little. The ""C"" wave thereafter will take the PANTS off everyone. Be careful when this ""B"" wave completes. Do not get stuck into a fools rally.
However, I do say this. We are UNLIKELY to see MUCH FURTHER EROSION of the market currently, and that all the waves irregular as they may be have formed ONLY an """" A"" so far. the B up is pending, and I don't want to stick out my head again to say that it wont break the highs, alltough the possibility remains Little. The ""C"" wave thereafter will take the PANTS off everyone. Be careful when this ""B"" wave completes. Do not get stuck into a fools rally.
Trade active
Market is indicating a draw down towards 22900-8-- zone.Trade closed: target reached
NS sustaining 38.2% of the Low/high to cmp... careful... Could reverse from just about here
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