SGX nifty cmp 18826
SGX nifty index registered high of 18831 today and 18860 in last week.
Last week was not able to close above 18779 levels,
As per wolf wave formation , index in last phase of up move, where index might face resistance around levels of 19000-19100 levels.
As per pre assumption of harmonic pattern formation, leg c of pattern is already matured, and any reversal below 18779 would lead to formation of led D which would extend much lower around 17800-16800-15800 levels.
Whole view gets negated on closing basis above levels of 19300,
Below that we have 75-80% chances of falling sharply.
Bulls time to be cautious.
SGX nifty index registered high of 18831 today and 18860 in last week.
Last week was not able to close above 18779 levels,
As per wolf wave formation , index in last phase of up move, where index might face resistance around levels of 19000-19100 levels.
As per pre assumption of harmonic pattern formation, leg c of pattern is already matured, and any reversal below 18779 would lead to formation of led D which would extend much lower around 17800-16800-15800 levels.
Whole view gets negated on closing basis above levels of 19300,
Below that we have 75-80% chances of falling sharply.
Bulls time to be cautious.