Nifty moved in expected lines as mentioned in the last post on 3rd November. It made a high of 10922 (10937-80 given on Nov.3) and started reversing in sub-sub wave and heading for 10700. From there fast upmove expected to 11080-200 levels.
Then again a down move to 10700 levels and move up to cross the ATH. From there another fall expected which can take longer time and not expected to go below 10700. All these figures will be fine tuned and updated before the event to unfold, if there is any change. These are the view as on date and supercedes all previous posts.
It seems the 4th wave ended and 5th wave started and confirmation will be once it breaches ATH.
All these views are for purely educational purpose and may or may not be good for trading. Please consult your financial advisor before taking any trade as the writer or the website will not be responsible for any of your such actions.
Nifty clossed below 10700. What is your view now sir?
ushufflem
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Hi - Would like to know, what do you make of the Nifty's death cross on the daily charts? The 50 DMA is still trading below the 200. Does this affect your current view?
Thanks for your insightful analysis on the markets as usual.
ajit602
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