NS gave today 2 closes below the 2 and 5 SMA indicating the trend reversal. This got confirmed with the
stochastic going below 80 and the MACD histogram opened below 0, though the signals are above 0 but crossed over.
All these indicate the bears are in action and holding their ground.
The 11900 target was given as early as 11 July 2017 and the trend reversal in March 2017.
www.vfmdirect.c...forums/show.cgi?topicid=15...
Nifty almost reached the target by making ATH 11760 short of 140 points, considering the earlier post was of
more than a year back it is negligible.
Now the following emerges:
1. This can be an ABC wave or a new impulse downward..
a) If it is ABC wave this should get terminated at 11100-200 area.
b) If it is a new impulse this can drag nifty to 10500-600 area.
2. By this week end if nifty failed to cross 11760, the above comes into force.
If Nifty crosses 11760 by Friday, we have to assume the bullish wave continues and
this is a minor correction.
3. In weekly, Heikinashi candle is in tact and we should get at least one weekly close below 11520 for
the confirmation of the correction.
To sum up : s Nifty ATH at 11760 can be considered 70% as medium top is made.
These are my personal views for educational purposes and may not be good for trading.
stochastic going below 80 and the MACD histogram opened below 0, though the signals are above 0 but crossed over.
All these indicate the bears are in action and holding their ground.
The 11900 target was given as early as 11 July 2017 and the trend reversal in March 2017.
www.vfmdirect.c...forums/show.cgi?topicid=15...
Nifty almost reached the target by making ATH 11760 short of 140 points, considering the earlier post was of
more than a year back it is negligible.
Now the following emerges:
1. This can be an ABC wave or a new impulse downward..
a) If it is ABC wave this should get terminated at 11100-200 area.
b) If it is a new impulse this can drag nifty to 10500-600 area.
2. By this week end if nifty failed to cross 11760, the above comes into force.
If Nifty crosses 11760 by Friday, we have to assume the bullish wave continues and
this is a minor correction.
3. In weekly, Heikinashi candle is in tact and we should get at least one weekly close below 11520 for
the confirmation of the correction.
To sum up : s Nifty ATH at 11760 can be considered 70% as medium top is made.
These are my personal views for educational purposes and may not be good for trading.
Today confirmed point 3.
Now 1 a or 1 b remains to be seen