Nifty : Upmove is near completion. Downtrend to 10800 or further

Nov 11, 2020

Since March 24, 2020 Nifty had begun its D wave of a NEUTRAL TRIANGLE (a special type of NeoWave pattern). This D wave has formed a Bow-Tie Diametric pattern.
All calculations are marked in the chart.
As G wave of a diametric pattern tends to equal A wave, the possible culmination of this wave is very near at 13100 levels and E wave of the NEUTRAL TRIANGLE pattern will soon commence.
Second possibility of D wave completion is a Trendline resistance of 12800-12900 levels. In this case we may a fall in Nifty from 12 Nov 2020.
As E wave of this NEUTRAL TRIANGLE will traverse below 10800 before Jan 2021.

Investors can invest to build a good equity portfolio during this fall.
Wish you all a very Happy Diwali and Happy Investing.



[Please note : The analysis is for education purpose only. I am not a SEBI research analyst. It is advised to consult a financial advisor before investing or trading.]

Dec 2, 2020

Trade active

My view is still the same.