Nifty 11-09-2018

I think correction is complete or very near to completion.

We should see new high now.

My only concern is this wave (iv) looks like 5-wave structure. Anyway we will get clarity near 11600. My target is around 11600 for now




Nifty 14-02-2018

As said in previous post, we are in 3-4 month correction/consolidation phase which started on Jan 29th. Its very likely that this correction will be in form of Triangle. Currently we are in 1st leg (wave A) of triangle.

Today we’ll focus on this 1st leg on hourly chart.

Preferred Count:

Wave formed is a-b-c-X-a-b-c. This is my preferred count now.

Wave ‘X’ is forming Triangle as shown in blue dashed line. Wave (d) of this Triangle is complete(or will complete soon) and wave (e) will form. There after we should see sharp fall downwards.

10600 – is hard stop for this assumption.

Alternative count:

Wave formed is 1-2-3-4-5. Currently we are in wave 4 and soon wave 5 will start down.

Alternative count: (for more upside)

Whatever I have marked as (b)-(c)-(d)-(e) will take form of smaller a-b-c or smaller triangle i.e. correction for wave (a). In That case once this small correction is over (wave (b)), next wave (c) will start upwards which will move past 10600.


nifty 1