NIFTY - VIEW FOR DECEMBER 2018

NIFTY SEEMS TO BE MAKING A ZIGZAG CORRECTION IN LONG RUN. WAVE A OF THIS CORRECTION WAS AN IMPULSE, WHICH ENDED AT 10012.65. B WAVE IS A COMPLEX CORRECTION. THE FIRST LEG OF CORRECTION IS A ZIGZAG, FOLLOWED BY A FLAT CORRECTION IN THE FORM OF X-WAVE. THE NEXT CORRECTION IS AN EXPANDING TRIANGLE, WHICH IS THE COMPLETION OF WAVE B. THE MENTIONED TRIANGLE FOLLOWS ALL THE RULES OF A TRIANGLE EXCEPT THAT WAVE -D IS SMALLER THAN WAVE C. HOWEVER, AS PER THE RULES OF NEO-WAVE, ONE OF THE RULES MIGHT NOT BE FOLLOWED ESPECIALLY IF IT IS A TRIANGLE OR A DIAGONAL. THIS GIVES US A TARGET OF NIFTY IN NEXT MONTH TO BE AT LEAST 10000. IT CAN BE SHORTED WITH A STOPLOSS OF 11100