Nifty’s inflection tilting towards “down”in the ST, though OS hour “could” produce a bounce/ rally..

Based on latest prices, trade plan needs to be fine tuned. Prices have closed above 10Sma 11766 & 50Dsma-11280. In the current scenario, 2 possibilities exist:- 

  1. Prices are rallying up in “B”wave within which “a”wave done from 10670 to 11695 and “b“wave is done @ 11090 & the “c“wave unfolds towards 12000 to complete this “B“wave, holding above 11880.
  2. Corrections done @ 10670 and Prices are impulsing up in a new uptrend with a 1st wave done @ 11695, the 2nd wave done @ 11090, & the 3rd wave is unfolding as long as prices are kept above 11450.

If Ending diagonal , it must keep below 11979 OR a running correction is unfolding if kept above 11820 OR ???.

If holds 11885-895, strength would return towards 11935-950 & above which 11975-990.

If held below 11935-950, weakness would continue towards 11885-895 & below which 11820-840.

Learn Elliott’s wave study with.. Frost and Prechter’s book “Elliott Wave Principle”- a free online version of the book is available here – the link. bit.ly/2Zj9v3W

  1. #1 by Bhagwan advani on November 5, 2019 - 6:53 PM

    Jai Shri Ram

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