rajivghosalkar

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

Short
rajivghosalkar Updated   
NSE:NIFTY   Nifty 50 Index

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.



Trade active:
My view is still the same.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.