GIFT NIFTY 50 INDEX FUTURESPenjualan
did nifty topped
Diupdate
as for as wave principle is concerned the recent high at 23587.5 in futures is at top since its inception.that level completes 5th wave at 5 degrees, so completing wave one of cycle degree.the collapse in wave a or 1 of next leg of correction to its previous 4th wave area indicates beginning of long term correction.on an hourly basis the precent pull back which may touch 23050 will bw wave b,hence it implies that next leg will be downwards in wave c in a shallow manner.that will take price to at or below 21050 levels.
no method is perfect in stock market,we have to analyse the market as and when new price is dynamically and constantly being put by the market at all degrees of trend.
no method is perfect in stock market,we have to analyse the market as and when new price is dynamically and constantly being put by the market at all degrees of trend.
Catatan
looking at Friday's price action it seems that wave 5 in circled green has not yet completed.the low of 21125 on election day becomes circled wave 4 in green.that is the nature of wave c personality,a devastating collapse.so i would expect another 5 wave impulse or ending diagonal to the upside to complete my view of ultimate top.lets see.
sorry unable to upload updated chart.
Catatan
as far as hourly or 15 minutes price action is concerned today would like to see price action to the downside for wave 2 correction. wave 2 usually is zigzag formation which is 5,3,5 that means 5 subwaves to the downside for wave a followed by 3 wave pullback for wave b which can retrace 0.5 to 0.618 of wave a decline,and final leg for wave c in another 5 waves to the downside which should not go at or below the level of previous decline that is 21125.
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