Nifty finished its correction of ABC Waves from 9119 to 6826.and this correction is exactly 50% of its
previous rally from 4628.
Now the shortened 5th wave rally namely X Corrected exactly 50% at 7893.
We are in a critical juncture at least for a week.
the chart clearly explains what to do next
previous rally from 4628.
Now the shortened 5th wave rally namely X Corrected exactly 50% at 7893.
We are in a critical juncture at least for a week.
the chart clearly explains what to do next
Comment:
A WAVE ends at 8430 those who are long can book profits at this level.today resulst
season begins .if 8431 crossed we may have extention of a wave till 8685.lets wait and see
season begins .if 8431 crossed we may have extention of a wave till 8685.lets wait and see
Trade closed: target reached:
cover all longs near 8430 ,don't keep longs,sharp declines can be possible from this level.nifty p/c ratio 1.34 ,still fii selling no reason for bullishness.
first target of wave 5 is 8203,8160,finally 8085.
if nifty gets support at 8085(previously it was 8025),buy .otherwise if it brokes 8085 more pain