Nifty:11662, has made a strong break out above the falling trend line, showing bullishness ahead, while it can retest the TL support around 11580, next resistance will be 11800 & 11980.Sustain above 11718 can be considered as strong bullish sign
In my Last post I was expecting a turn around from 50% retrace level 11158, but market refute that and went down to 11090, some 30 points above the 61.8% level.
Wave count remain same as posted in 21st sep.
The 2-4 line principle give me confidence that 10004 was not wave 4.
So hopefully this count could be more on the right side.
Please check previous post
‘’’ Minor wave 5 is hopefully starting from 10670 can end around 12100 to 12800 range.
A 38.2% of w3 will give a target 12146 and a move equals to w1 can take this w5 to 12813 target level. There are many hypothetical levels possible here. Let us wait and see how it evolve in real world.
The 2-4 line is redrawn as discussed in the earlier post.’’’’’
Happy Diwali to All
In my Last post I was expecting a turn around from 50% retrace level 11158, but market refute that and went down to 11090, some 30 points above the 61.8% level.
Wave count remain same as posted in 21st sep.
The 2-4 line principle give me confidence that 10004 was not wave 4.
So hopefully this count could be more on the right side.
Please check previous post
‘’’ Minor wave 5 is hopefully starting from 10670 can end around 12100 to 12800 range.
A 38.2% of w3 will give a target 12146 and a move equals to w1 can take this w5 to 12813 target level. There are many hypothetical levels possible here. Let us wait and see how it evolve in real world.
The 2-4 line is redrawn as discussed in the earlier post.’’’’’
Happy Diwali to All