Waves have been marked on chart for easier assimilation .. As per counts, it appears that wave (i) of Wave 3 and its corresponding corrective wave (ii) r complete .. The fall that was witnessed appears to be wave i of wave (iii) .. same was followed by corrective leg pulling Nifty to approx 11660 levels in a 3 wave pattern n the same has been marked as wave a .... Expecting Nifty to take resistance from the first resistance zone (marked on chart) n fall till the second support zone marked on chart in a 3 wave pattern (choppy movements)...From there Nifty should rally to retest the first resistance zone .. How much of these movements happens on Monday shall depend on VIX ... Bottom line - Nifty is bearish, rallies are opportunities to short
Note - views expressed are personal n for educational purposes only. Consult your financial advisor before trading instruments
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Nifty may try to trap ones on the short side by opening gap down, somewhere around 11590 - 11600 .. will take resistance from the zone and fall till 11530 only to rally up till 11650 from there, thus trapping people on short side .. stay cautious
perfect analysis as of my views, you are 100% correct bro, 11658 it finds resistance and again it tests 11550-11560 to retest 11660 or it may retrace even with out resting 11660, weekly chart shows negative divergence, and daily chart also looks negative, nasdaq crashed by 3% on last friday, it's impact on asian markets will be deciding factor, nifty can test upto 11440, then actually it can decide for upward/downward based on election result and various global factors.
ManasiKashyap
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I have been following you from few days. And must say, your forecast is amazing!
raj0778
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@thriftyApricot19256, thanks bro 🙏🏼
nandajyoti07058
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Nifty will give big surprises. Sure
ckirtane
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today I fully agree with you but if trump challenges counting then result will prolong for one month. Is this possibility looking in chart? astrology pundits are expressing recounting possibilities.
sumannarayana
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what's your view on Relaince ? my view reliance 2060 it finds resistance and it will test 1950 level
raj0778
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@sumannarayana, haven't been trading RIL so not sure ... though after ur query I had a glance at the charts .. From 2370, RIL tested 1990 in a 3-wave pattern ... Be cautious going short on RIL, to me it appears that from here RIL may again rally till 2370 or even achieve an ATH of 2470 in a 3-wave pattern only to fall from there to test 1890/1880 levels
sumannarayana
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@raj0778, what master you said Reliance will bounce back to 2370, as i said reliance tested already 1950 level today and also 1890 also., with waves you can't get correct analysis, change your analysis mode.
raj0778
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@sumannarayana, listen dude .. first n foremost, i told u that I don’t trade RIL hence m not sure n i just had a glance on the chart .. so whatever i said was based on the first look at the chart .. secondly, I didn’t come to u with my idea, u sought for the same from me .. lastly n most importantly, I didn’t seek any advice from u on what kind of analysis I should be following, so kindly keep ur worthy advice to urself n nobody out here is inviting u to grace my ideas with ur worthy visits/ comments.. most welcome to ignore them
sumannarayana
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@raj0778, cool dude, just take it light, tomorrow my analysis nifty tests 11730, 11743 and 11770 levels, downside 11660,11588 and may be 520 levels, in between based on the patterns it forms, i can make out, Knowledge sharing, view sharing are always beautiful, so don't get offended pls