Analysis based on technical parameters(No Noise)
Nifty yesterday with a gap up...indicated it's intent in the morning session...however failed to sustain and fell,Notwithstanding the trend is intact and likely to traverse further up...The index as of now, what I perceive is in it's final leg of uptrend and probably in the next week may commence with it's cyclic correction....at the same the DOW may complete with it's 5 cyclic wave and start with its correction which will be in perfect sync with Nifty...Their is a misnomer that a rising wedge leads to major correction...but on the contrary what i know...As wedge is a motive wave it doesn't lead to a major correction...this aspect you must be witnessing in the recent rise of nifty from the Mar COVID fall where at many a instances you must have encountered.
Analysis is only for educational purpose.
Trade as per own risk assessment.
Nifty yesterday with a gap up...indicated it's intent in the morning session...however failed to sustain and fell,Notwithstanding the trend is intact and likely to traverse further up...The index as of now, what I perceive is in it's final leg of uptrend and probably in the next week may commence with it's cyclic correction....at the same the DOW may complete with it's 5 cyclic wave and start with its correction which will be in perfect sync with Nifty...Their is a misnomer that a rising wedge leads to major correction...but on the contrary what i know...As wedge is a motive wave it doesn't lead to a major correction...this aspect you must be witnessing in the recent rise of nifty from the Mar COVID fall where at many a instances you must have encountered.
Analysis is only for educational purpose.
Trade as per own risk assessment.
Comment:
C WAVE COMMENCED...