NIFTY is 3 is there opportunity to buy on Monday?
ok before writing some thing please refer to my chart
published on august 5th in trading view( NIFTY a simple picture in daily time frame.)
I had thrown overall picture of nifty here for my followers and general viewers here.
Some of of my my followers (he or she may be) are very hard working I like their efforts.
Now a days they are publishing correct Elliot waves earlier their 4th wave was invading the territory
of 1st wave. This thing never happens in wave counts .
Coming to the point it appears to me the Friday decline in nifty is only 4 th wave pull back of ongoing 3 rd wave.
I have drawn a pitchfork ,nifty has touched the median line of the pitch fork.
as nifty was rejected at the uml there was 80 percent probability that should touch the median line.
It had happened in actual. Now there is probability that it should reverse to the uml again.
If this does not happen then it may break the median line it may fall back to next red line.
and reversal from that will be powerful. In many of my charts I have shown that previously.
If Monday morning any decline takes place buying zone will be 17510 to 17670.
with strict stop loss at 17644 as if it is violated my assumption of it being 4 th wave will be wrong
as it will be invading to the territory of 1 st wave.
Hence let us look for a chance but don't short in that range blindly.
Don't forget to like my post .follow me to get updates.
published on august 5th in trading view( NIFTY a simple picture in daily time frame.)
I had thrown overall picture of nifty here for my followers and general viewers here.
Some of of my my followers (he or she may be) are very hard working I like their efforts.
Now a days they are publishing correct Elliot waves earlier their 4th wave was invading the territory
of 1st wave. This thing never happens in wave counts .
Coming to the point it appears to me the Friday decline in nifty is only 4 th wave pull back of ongoing 3 rd wave.
I have drawn a pitchfork ,nifty has touched the median line of the pitch fork.
as nifty was rejected at the uml there was 80 percent probability that should touch the median line.
It had happened in actual. Now there is probability that it should reverse to the uml again.
If this does not happen then it may break the median line it may fall back to next red line.
and reversal from that will be powerful. In many of my charts I have shown that previously.
If Monday morning any decline takes place buying zone will be 17510 to 17670.
with strict stop loss at 17644 as if it is violated my assumption of it being 4 th wave will be wrong
as it will be invading to the territory of 1 st wave.
Hence let us look for a chance but don't short in that range blindly.
Don't forget to like my post .follow me to get updates.
Comment:
title is wrongly written by mistake.
