Analysis is done using combination of Elliott wave analysis / Tom demark sequential analysis. This week market should reach its top. The phase of market for next week onwards is expected to be complex with market in retracement phase of the rally that is currently in progress from 11800.
This retracement may be last of major retracement for long time and best time to plan long term investments in my opinion.
For futures / option traders this phase will be a testing time with complexity of waves to follow as it is not easy trading in decline.
This week shorts should be avoided in my opinion.
The trend lines are for completion of complex C waves in nested triangle pattern which is in formation. Colour coding is used for nested triangles that is in formation
( Note: Please note that This is analysis only and not a trading advise.)
This retracement may be last of major retracement for long time and best time to plan long term investments in my opinion.
For futures / option traders this phase will be a testing time with complexity of waves to follow as it is not easy trading in decline.
This week shorts should be avoided in my opinion.
The trend lines are for completion of complex C waves in nested triangle pattern which is in formation. Colour coding is used for nested triangles that is in formation
( Note: Please note that This is analysis only and not a trading advise.)