simple analysis always gives good results
upside rally will continue further,but slowly
nifty completed wave 1 rally which started in march 2020,wave 2 correction started,looks like its a time wise correction it will end in august 2022,then wave 3 rally begins towards 30000.
trend deciding level:15779 above 15779 nifty will reach 16050 and then a big 1500-2000 points fall begins,but if nifty does not touch 15779,it means it already made the top
final fifth downmove is left in itc to start a new bull run
final upside rally is pending in nifty before a major correction.
the ongoing rally in dow jones is a big bulltrap rally.a severe fall is waiting at all time high
Banknifty completed wave 4 expanding triangle correction which took 1 month,now wave 5 rally should start towards 36300
nifty completed wave 4 ascending triangular correction which took 1 month,now wave 5 rally should start towards 16150.
still flat correction not completed
this wave count holds true as long as banknifty does not touch 35845,once banknifty touches 35845 exit short,go long.
go short at 15853 level to capture 300 points fall.
india vix is still in flat correction important note:option buyers stay away from markets for next one month,otherwise you lose all your capital.