Nifty: A Possible Current Upwave Count

Oct 14, 2017

Index had a long awaited breakdown and an unexpected failure of that breakdown.

Normally such failures are followed by sharp rallies, due to short covering, and the current up move has shown this characteristic.

Where to buy ?
As per this count, buying signal near 10100 minor support zone is required for initiating longs.

What could be the targets?
The tentative projections shown on the chart could be the minimum wave 3 targets.

Where would be the strong confirmation?
The continuation above 10179 would be a strong confirmation for these targets to get achieved.

Rest of the notes are on the chart.

Hit Like and share your thoughts.
Enjoy the weekend.

Regards
Bravetotrade

Oct 18, 2017

Note

Oct 24, 2017

Note

The index was just shy of kissing the support zone and reversed higher.
As per this count we might be in 5th or 3rd of 3rd.
If this is 5th, the wave should end near or below 10420 as 3rd can not be the shortest.
Let's see how the waves unfold.

Oct 24, 2017

Note

Oct 29, 2017

Note

Nov 3, 2017

Note

Market crossed 10420, which means 5th has not ended and we are in a sub wave 3. The current move failed our hypothesis so this post is closed.