Hi friends,
As usual election day saw wild swing ,Trader on the right side
would have made good money ,Wrong side would have got wiped as the volatility
was huge,Well now vix has melted so volatility should get normal now.
Lets see the wave structure of the fall from 7563.
From the chart we can see
a nice trending move in 123
now till 7350 is held we can
take this fall as a impulse
which suggests below 7170
we should head towards 7000
even if this is abc (W)at the low
we made on election day and
this is a new wave up till 7350
is not crossed we can confidently
say a fall towards7000 should come.Lets see how nifty behaves over next few days
Regards
Rish
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