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 .....
In continuation of earlier posts follow up this time weekly chart is posted to highlight an observation posted here an year back.
If we go through the above link we can see that in weekly chart whenever the price goes above the Upper Bollinger Band (UBB)
it remains there for 2-3 weeks...
NS posing a question to all... What next. NS is not going to say anything but gives us the puzzle as always "catch me if you can".....
Now it is giving some signal of 3 repetition out of 4 times in last 2 months. It cannot be construed as "coincidence". Now can
it repeat a few more times is the puzzle. One thing comes out of it is, watch out for the 9th...
2/5 MAs cross over done and soon the script should start moving up. Once the MACD signals enters
inside the histogram above 0,(marked in rectangle) the probability to reach the expected targets gradually increases.
Once the 1st resistance in blue line crosses and closes the 50% percentage achieved and crossing each blue
line percentage wise reaching target increases.
Going by the past performance this script has the tendency of going up after every 4th year. Accumulation for long term is at the bottom of the rectangle
with a small SL. By 2019 FEB/MAR this may repeat the earlier performance and can double. Risk/ reward looks good.
As mentioned yesterday NS made a green candle today, though it is a doji. The doji says aloud neither bull nor bear is having upper hand as of today.
The candle is sandwitched in between 5 and 2 SMA.
As per EW if consider 11495 to 11340 as A wave, the B is in progress from 11340 to todays' high, either completed or in the process of completing.
In that case C...
In continuation of earlier posts, the NS closed below the trend line for the first time today. The 2/5 MA c/o done indicating correction.
The MACD signal is still above 0 and histograms though becoming smaller standing above 0. Now if the MACD signals cross over the
correction can extend to 11254-60 levels. But by looking at the earlier instances the chances...
NS slowly and steadily crossed the ATH and made new high. This slow & steady rise can be termed as a trending pattern.
Looking at the daily, weekly and monthly time frames NS is heading for 11600 before it makes a sideways move marked
in the daily charts with circles and posted here a few days ago. The stochastic is above 80 and it can give gap ups until
Nifty multi-year Daily Chart attached. It can be seen it is in staircase mode. Approx. target on top and range marked. Interesting days are ahead.
Nearing to ATH slowly and steadily. If it can cross ATH and stays there for 2 days the short covering can catapult Nifty to higher targets.
A Close look at the chart reveal that there were 2 dips or sideways movement on its path (marked in red circles). We have seen one of these in last two days and it is completed or in progress. Once it completes the journey starts again.