Nifty Analysis
The NS chart looks somewhat PRECARIOUS to ME. AT BEST......I can ONLYTERM IT AS ""B"" BOUNCE. The Bounce B has been shown to be Reversed from 2 zones as marked at 23.6 or 61.8% RETRACEMENT Zone. IF I consider the the LOWS of FRIDAY to HOLD for now, then we can simply see a ''''5'''' wave IMPULSIVE RISE. Remember it MUST be 5 waves UP at any Cost and NO LESSER. Should it not be 5 waves UP..... then it would MERELY MEAN THaT WE HAVE A ''''' TRUNCATION'''. A Truncated wave is One where 5 waves DO NOT form and the Trend REVERSES from wave 3. Hence Caution is advised as follows.
1. WE HOLD FRIDAYS LOWS .
2. HOLDING THIS LOW, it will simply be marked as follows. 1 done yesterday at highs. a gap down upto 50% maximum of yesterdays RISE/RETRACEMANT should be marked as 2. Thereafter 3 will move beyond Fridays high and when this happens, we will know for SURE that the market will move in 3/5 waves towards the 61.6% RETRACEMENT zone to form LARGER '''B'''. Here each one of you needs to be extremely cautious as B waves have the tendency to SUCK IN PARTICIPANTS by Overshooting the highs and the Next day breaking down with a Massive Gap down, thus trapping ALL LONGS. Remember we still have C down to play out
1. WE HOLD FRIDAYS LOWS .
2. HOLDING THIS LOW, it will simply be marked as follows. 1 done yesterday at highs. a gap down upto 50% maximum of yesterdays RISE/RETRACEMANT should be marked as 2. Thereafter 3 will move beyond Fridays high and when this happens, we will know for SURE that the market will move in 3/5 waves towards the 61.6% RETRACEMENT zone to form LARGER '''B'''. Here each one of you needs to be extremely cautious as B waves have the tendency to SUCK IN PARTICIPANTS by Overshooting the highs and the Next day breaking down with a Massive Gap down, thus trapping ALL LONGS. Remember we still have C down to play out
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