If you had referred to my previous idea-- NIFTY
moved exactly as speculated. When I was analyzing individual stocks today, I could see most blue chip stocks getting ready for a bullish
move. I came back and studied the wave count of Nifty
. As expected, I found the price to be at a 0.236 retracement level from wave 0. I can suggest my viewers to go long as and when needed from this level. The next target for nifty
would be 8736. The current price is 8181. If nifty
moves below 8135 in tomorrow's session(Monday, 4th May 2015), the count is invalidated and everyone can resume taking SHORT positions. If tomorrow closes positively, then we can see a BULL market for +550 points.
Final Conclusion: Do not trade on 4th may 2015. Watch the prices.. If we close positively, then be confident and start taking long positions till notified next on tradingview.com by me.