NIFTY is at a tricky situation. A lot of overlaps of smaller waves. In the normal foreseeable expectation the 5.2 wave
should have been reversed in between 11000-11200 but it did not. The volatality and the speed of reversal of smaller
waves made it much more difficult for the trader. A number of messages received during the last one month as to .....
wave 2 started, wave 2 ended, when wave 3 can start etc.etc. These questions lingering on even now.
The 2nd wave made a 5 wave structure and the last sub wave completed or ready to end, considering 61.8 %
retracement completed. Looking at the MACD signals it is yet to give a signal of trend reversal. The stochastic
is below 20 and once it goes above 20 the pull backs can start . When it starts we can get HH and HL and the
heikinahi price can start closing above 5 SMA followed by MACD signals c/o.
The first resistance can be the 200 SMA in daily and once settles above it, the next resistance will be 20 SMA which
is middle BB. Once middle BB is crossed it can head towards UBB and by that time IF the MACD histo opens above 0 and
the signal can enter above 0, the price can catch the UBB and start climbing to higher levels.
One question received was whether the leap frog pattern negated or not. It is in tact and the minimum we can
expect is the total points of the 2 jumps from base as the next minimum target.
All said and done the above can start one by one next week and if it is delayed , we may have to wait for a few more days.
should have been reversed in between 11000-11200 but it did not. The volatality and the speed of reversal of smaller
waves made it much more difficult for the trader. A number of messages received during the last one month as to .....
wave 2 started, wave 2 ended, when wave 3 can start etc.etc. These questions lingering on even now.
The 2nd wave made a 5 wave structure and the last sub wave completed or ready to end, considering 61.8 %
retracement completed. Looking at the MACD signals it is yet to give a signal of trend reversal. The stochastic
is below 20 and once it goes above 20 the pull backs can start . When it starts we can get HH and HL and the
heikinahi price can start closing above 5 SMA followed by MACD signals c/o.
The first resistance can be the 200 SMA in daily and once settles above it, the next resistance will be 20 SMA which
is middle BB. Once middle BB is crossed it can head towards UBB and by that time IF the MACD histo opens above 0 and
the signal can enter above 0, the price can catch the UBB and start climbing to higher levels.
One question received was whether the leap frog pattern negated or not. It is in tact and the minimum we can
expect is the total points of the 2 jumps from base as the next minimum target.
All said and done the above can start one by one next week and if it is delayed , we may have to wait for a few more days.