Friday, November 16, 2018

Nifty wave count

Nifty is keeping on toes crucial levels approching.
In my last post Nifty wave count .I had anticipated the rally from 
10336 to 10710 as 4th wave rally which turned out to be true.
After that we had a new low 5th wave which terminated at 10004.5.

Let us see the possible counts we have for now.

The popular count is we have a 5 down followed by abc up 
So in this case A (5 down) done ,B up on. The crucial resistance range 
10750-10820 the GAP nifty created in its 3rd wave fall.If thats taken out 
we have to have a bull count ready!!!!.

Let me post the chart.

The other possible scenario we have is running flat correction,Which says the correction is over 
and we head higher.Let me post that chart.

A running flat is a 335 correction where B goes above A high and C remains with in the start of B wave.This is interesting count ,I would look for more hints to zero in on the preferred count !!


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