- Nothing much changed from last week. Expecting correction or consolidation for sometime soon.
- Divergence is seen in price and RSI
- Look for break of Lower trend line for correction/consolidation confirmation
Seems wave ‘a’ or ‘i’ is near completion. Correction (‘b’ or ‘ii’) should start soon.
Posting daily, weekly and monthly (log scale) chart.
I think Nifty is in uptrend.
Below is Hourly chart.
If this is indeed wave 2 then look for
As said in previous post, Nifty turned UP today. Wanted to catch this kind move and we made 1-2 unsuccessful attempt earlier, no loss though. Today, it already gave 5 bagger and if it goes as per plan it should be 10-15 bagger by expiry.
This kind of opportunity is seen 2-3 times in a year. Last time was in May 16
Lets see how thing goes tomorrow and day after.
IMPORTANT: Anyone playing should use 34 EMA in 5 min as entry & exit for next 2 days OR previous LOW in 5 min as stop loss to protect profit.
Below is 5 min chart with 34 EMA
I am expecting, Nifty making TRIPLE complex correction.
Same was said earlier
If TRUE – Final leg down ‘(c)’ should take 10-11 days to complete. Best time of reversal would be 27th Dec post noon time.
After completion of this ‘(c)’, this correction will complete and we’ll see upside move.
Below is Hourly Chart
Market mood is very bearish due to various factors like Trump, Demonetization, rise in dollar index etc…Sometime this kind of mood gives big return in market especially during last week of derivative trading. So be vigilant for possible opportunity in upside.
Please refer below link to understand where I am coming from
Below is hourly chart.
If above pattern setup happens and things go in our way – It could give multifold returns in options in next week. Can invest small qty to buy CE8100/CE8200
If I get chance, I will try to update this blog………..
Trump or Clinton ?
Nifty reached to bottom of channel in hourly chart. This should bounce soon if this movement from last 2 month is corrective. Expecting bounce soon
It is said that if
Seeing hourly chart below, it seems current down move over and next move should be upside. Hence if I have to speculate using elliott wave – its Clinton who is going to win US presidential election.