Hey Everyone,
Nifty went past our predicted zone, it initially danced there for some time , but the continued fall on Friday telling something else is going on.
I initially thought it might be due to some sudden geo political event ( US Ukraine or more tariffs) , but after todays new low , my view changed and as per market i had to re evaluate the waves.
After seeing known possible scenarios, i came to conclusion that we are still in sub wave 3 of wave C.
(All Fib levels are shown in the chart)
Keeping it short , wave 3 , Fib 161.8% level end showing at 21973 around, some more fall might come before wave 4 starts.
Some profit bookings already started at ~22000 levels ( Fib 123% level) ( remember its still not tested and its a round psychological number, so market has to respect the level). I'm expecting one more test till 21973 level before market can start wave 4. If that level is also broken , then it can go till 200% level. Keep a track this week.
Ending diagonal theory didn't hold up since we are still in sub wave 3. Lets see if market forms it in sub wave 5 ( it doesn't have to form, i just want to see it forming :D as it started the fall with a leading diagonal ,an ending diagonal finish would be a beautiful art work )
Thanks for checking out.
Always remember, any level has to be confirmed with price action. I usually wait and see if new HL is forming, that's the confirmation we need .
Happy Trading
Cheers!!!!
Nifty went past our predicted zone, it initially danced there for some time , but the continued fall on Friday telling something else is going on.
I initially thought it might be due to some sudden geo political event ( US Ukraine or more tariffs) , but after todays new low , my view changed and as per market i had to re evaluate the waves.
After seeing known possible scenarios, i came to conclusion that we are still in sub wave 3 of wave C.
(All Fib levels are shown in the chart)
Keeping it short , wave 3 , Fib 161.8% level end showing at 21973 around, some more fall might come before wave 4 starts.
Some profit bookings already started at ~22000 levels ( Fib 123% level) ( remember its still not tested and its a round psychological number, so market has to respect the level). I'm expecting one more test till 21973 level before market can start wave 4. If that level is also broken , then it can go till 200% level. Keep a track this week.
Ending diagonal theory didn't hold up since we are still in sub wave 3. Lets see if market forms it in sub wave 5 ( it doesn't have to form, i just want to see it forming :D as it started the fall with a leading diagonal ,an ending diagonal finish would be a beautiful art work )
Thanks for checking out.
Always remember, any level has to be confirmed with price action. I usually wait and see if new HL is forming, that's the confirmation we need .
Happy Trading
Cheers!!!!
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.