Most probably a DIAMETRIC pattern Is forming and in that case monthly expiry should be bearish.
Nifty may still be forming a corrective structure from recent highs.16600 is key support.
The move from 15513 might be progressing as a double ZIGZAG.The point of doubt is in wave y of wave B of ZIGZAG-2.In both cases we are close to finishing this move.
WE MAY BE ENTERING DEEP IN 34200-33200 ZONE WITHOUT BREAKING ABOVE 35450. CROSS OF 35450 WITHOUT BREAKING BELOW 34200 WILL NEGATE THIS COUNT.
THE RISE FROM 13131 TILL DATE LOOKS LIKE A CORRECTIVE BOUNCE AND IN THIS RISE THE LAST LEG FROM 13860 IS LOOKING LIKE AN ENDING DIAGONAL OR A TERMINAL IMPULSE.FOR THIS TO CONFIRM WE SHOULD BE BREAKING BELOW 13860 VERY SOON WITHOUT BREAKING TODAYS HIGH. HAPPY NEW YEAR
THERE ARE TWO COUNTS SHOWN IN THE CHARTS SHOWING THE PROGRESS OF WAVE C IN BOTH CASES S&P 500 SHOULD CORRECT WITHOUT BREAKING MUCH ABOVE 3750. THE BLACK COUNTS ARE FOR A TERMINAL IMPULSE OR AN ENDING DIAGONAL AND THE RED COUNTS ARE FOR A TRENDING IMPULSE IN WAVE C.
ALL DETAILS IN THE CHARTS.THE MOVE COMPLETION ZONE IS 11780-11840.
ALL DETAILS IN CHARTS
ALL DETAILS IN CHARTS
ALL DETAILS IN CHARTS .ONE MORE UPSIDE IN THE RANGE OF 10850-10880 IS PENDING AS SEEN IN CHARTS. SELL ON RISE WITH S/L 10926