Now how to understand this 5.1.3 is finished. 3 simple steps can give the answer.
1, In daily first we should get a Lower High and Lower Low
2. In daily 2 closes of heikinashi candles below 5 .
3. In daily cross over of signals.
But by the time we get all the above NS must have corrected more than 150 points. One of the options to circumvent this is
any day if NS fails to make a new high by 3.20 PM enter a short trade with the previous day high +5 points as SL.
Then add more when we get the second point confirmation. Again top up on confirmation with the 3rd point.
The only few points to indicate the reversal are imminent are as follows:
1.In Daily a candle on top after a gap up and the gap filled indicate a reversal pattern but however it needs a confirmation by next candle.
2. The Wave calculation developed so far going correctly, though not to the minutest point, also indicate the trend reversal is due.
3. In 1, 2 and 4 hourly charts refused to go above 70.
4. In weekly chart the price is above UBB for last 3 weeks and as mentioned in an earlier post it has to get back inside the UBB.
The is also below 70 and need to cross 70 for any further bullishness.
All other indicators like , SMAs and still showing bullishness and in the next couple of days we may get signals from these indicators regarding correction.
This is purely an educational post and these may or may not happen. No suggestion is made here to take any trade on the basis of this. Anybody taking trade may consult with their Financial Advisor before doing so as the writer or this website will not be responsible for the actions on the basis of above post by anybody.
1st heikin ashi candle below 5 SMA.
MACD Signal c/o in daily pending.
For supports watch out 200 sma in 30 min t/f and hourly charts.
NS made a double top in monthly and this needs to be broken this month itself. Otherwise again there will be consilidation below ATH.
The wave counts posted by Murthyji is not Elliott wave. For info
his posts are well articulated
What are the counts based on ?
The counts are based on 4 factors, are a result of extensive research, where those finding were taught to us for free. 1) NIFTY has a Vantage points. 2). SMA over different time frames, 3) Macd structure length of the histogram etc.
Y don't you attend his two day seminar at Bangalore , after you mail him
Online course will be useful !
What precision. I post a copy of msg I had given to my friend,When you see Nifty Spot at 11730, go short positional with SL of 11754
Exactly worked well