Balas282
Education

Can we expect Triangle formation in Primary wave 4

NSE:NIFTY   Nifty 50 Index
Primary wave 4 could be in sideways correction where Wave B is in progress in triangle or Flat . Looks like move below 9500 hardly possible. Each wave expected to take 60 to 85 days cycle time.
Comment: Wave 3 might be getting exhausted around 11320 to 11330 level unless elongated extend. Expect Wave iv to take over.
Comment: More likely wave 3 is done. Lets see if entire gap gets filled by wave 4. Keep your view open for wave 5 when wave 4 retracing wave 3 move by 38.2%.
Comment:
Comment: Another Possible count. Wave e can follow 3 wave or 5 wave format. would say that upside is limited here as its moving with no strong pullbacks. Atleast Min 38% retracement will guarantee there is still more leg pending towards upward.
All your posts are very informative
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Balas282 VijayGeorge
@VijayGeorge, Glad to hear
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In your USD INR count ; is it wise to go long if it reaches 68.5 ?
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Balas282 joel-vg
@joel-vg, yes. But counter trend has to be confirmed and enter while upward get past prev upward move . Draw trendline connecting wave ii and wave iv(yet to form might be). Any upward impulse retrace and touch this trendline in less time than wave v took to form then we could say possibly rally has started. But always safer to enter wave iii of upward rally while it pass end of wave i. sorry i wont give calls which will restrict my exploration as i am still learner. Hope you are getting hint.
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joel-vg Balas282
@Balas282,

Thanks for the quick response !

There are few who attempt neely waves here , Although i consider them more logical in the wave counts
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Intelligent & creative work !
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Whenever you get time , Can you please attempt a weekly count of Tata motors ?
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Balas282 MAYA_MUMBAI
@MAYA_MUMBAI, sure.
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Excellent detailed study ! good work !

Trading view should appreciate your work whether Nifty follows it or not !
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Balas282 MAYA_MUMBAI
@MAYA_MUMBAI, Thanks for an encouragement
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