As you can see in the chart above, Nifty is currently at 0.618 projection level. It has already achieved all levels previously shared by me.
30 Jan is a possible turn date. Please stay tuned and keep following for realtime market updates on where is Nifty headed next.
Intraday tim fractal unfolding at 13:19 today will decide the future course for Nifty.
Don't pay attention to budget, GST etc, whatever is needed to determine Nifty direction is already there in Timewave!
Mostly chances are Nifty will NOT change its uptrend and will provide another opportunity to go long. Lets see.
Nifty is in no mood to top out here, and will continue the uptrend. One can take or add fresh long position here with 8600 Nifty Spot as TSL. Fibo targets are in the chart. Next turn date I will communicate later.
Next turn date is 2nd Feb, up till then. So hold patiently, looking forward to 8767 at least.
Changing my view here, exit here the long position while its still in some 10 points profit and go short with TSL at 8675.
In case Nifty goes above 8675, just reverse the position. Downside target I will communicate later, but expect at least 150 points.
Please carry forward this short position. Time and price targets will be communicated tomorrow.
Budget presentation is on 1st Feb ,so it may vary a few days I think. entire market is focused on that event,specially the GST factor.
So definitely will have an impact on market movement positively. How do you see that, in line with a turn date.
@dr_professor_nifty, Dear Rupam, my primary methodology is Timewave only and all entries and exits are being made on the basis of Timewave only. But Timewave does not tell me levels, so I use Fibonacci for that.