Nifty, Wege, Divergence

NSE:NIFTY   Nifty 50 Index
Nifty is in bearish mode below 200 DMA. Divergence is persisting for last some days and now it is coupled with a Wedge pattern. So any upward correction comes, it will be promptly sold out. Assembly polls are supposed to keep Nifty in volatile state for this year 2018.
Nifty PE Ratio has topped out. It was 27.68 in Jan 18. On Jan.4, 2008 it was 28.22 and then it hurtled down to 13.18 in Nov. 2008. Now it is at 24.62. If it happens to slide down to 17--19, big investment may pour in. This may happen by the year end or before or around announcement of Parliamentary polls.
Also see the E-Wave count of Nifty on weekly chart to gauge the long term prospect which is being posted after a while.
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