Kshitij_008

Nifty in Waves - 2nd August 2020 - B Wave continuation

NSE:NIFTY   Nifty 50 Index
Hi

As per the chart, we can see the Wave structure clearly drawn.
1st Wave started form 9000 and ended around 10290 (1290 points) and from there it came down to 9845 (2nd wave ) approximately 38% of the fall.
3rd wave started from the lows of 9845 & broke into 5 wave structure, which got completed around 11300.
Now after the 3rd wave, we can expect the 4th wave, which can have targets of 38% 50% or in very rare cases 61% of the 3rd wave upmove, which gives us a target of the fall as 10750, 10570 (recent fall low) & lastly a rare - 10430.
From there we can expect one more upmove - the 5th wave of atleast (nearly 1300 points), which gives a target of either 12000/11800/11600.This could/will be the completion of the B wave.
"B" wave is a wave which gives a false sense of rally to the investors & then suddenly brings them back to their knees.
Lets hope no one is caught in this.

Comments

Kshitij, are you saying there's going to be an enormous drop after the B-wave completes?
Also, any views on the Gold/Silver move?
Thanks :)
Reply
Kshitij_008 FirstcomesDeath
@FirstcomesDeath, Hi...as per me this is a flat correction, so there will not be a big drop but the target could be a retest of the last drop
+2 Reply
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