In continuation to my Nifty update (published on 21st Feb), I'm now posting an interim update in the 15m timeframe. Things have set course into the right trajectory as I had envisaged, at a timing which couldn't have been more right!!
I've labeled the Waves in the larger degree in Red.
Scenario 1 - We've completed Waves A and B (Wave count marked in Red) and now proceeding towards C which should run into 14162 or 13886 as depicted on the chart. Alternatively, we may have just started Wave 3 (marked as 3?) of a very large A (NOT depicted on the chart)
Scenario 2 - The C (depicted in Red) concluding at one of the above levels may be a Wave A of one large degree (as depicted on the chart as A?).If so, there will be a Wave B up (of one large degree, depicted as B?) and then a devastating Wave C down (of the same large degree), thus completing the whole correction process of the main 4th Wave (refer my previous chart)
Although, I'm tempted towards Scenario 2, it's too early to validate the same right now.
Please don't forget to 'Like' or a word of encouragement would be fulfilling too, for the hours of research that I put in before I publish any of my work :)
14600 Call writing has seen increased OI, an upside may be a trap for retailers , a downside is more likely..US Bond and Jobless data are backing up the downside... Maybe my emotions
VIISHAL
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@DurgaD Emotions impact market sentiments surely and you are right about more pain lying ahead.
Niftydirection
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1st scenario will work not 2nd one
VIISHAL
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@Niftydirection Yes, in all likelihood. But it may be wise to wait for some more validation, based on the manner the Waves unfold.