In my last update I discussed the possibility of an ED , it was an ED alright but since it was part of the 3rd wave rather than the 5th wave there was no impact and the market continued the bull run.As per the wave counts in the chart if we project the 61.8% for waves 1-3 from 9687, 10123 and 10,325 , the projected levels comes at 10471,10487 and 10,504. As per my analysis S&P 500 and DAX may have started or are getting ready for a small correction (2-5% ). Nifty is not showing any signs of reversal yet so watch out for signs around the levels mentioned above.
Please note that even if we get a correction it is another opportunity to buy as we are no where near the top both in case of Nifty and global markets. At portfolio level the short term stop loss can be used as 10,325 and for medium term 9687.
Good Luck
Please note that even if we get a correction it is another opportunity to buy as we are no where near the top both in case of Nifty and global markets. At portfolio level the short term stop loss can be used as 10,325 and for medium term 9687.
Good Luck