Medium Term Trend: ↑UP (down below 11550)
Today we are not going to discuss what markets did today or what its going to do tomorrow but we are going to have a look at slighter bigger perspective and discuss what it is going to do in next 15-60 days. Todays update is critical so read it carefully.
In our previous post we had mentioned that markets are at a very critical pivotal point and the sideways trading we are witnessing is probably wont continue for long and Nifty could start moving in a strong trend pretty soon. After seeing last 2 days move by markets this view has become even more stronger and we are reasonably sure ( mind you nothing is 100% sure) that the big trending move we have been talking about ( in either direction) is about to start pretty soon.
Lets see the 2 possible scenarios and their outcome-
1. Bullish scenario: This scenario assumes that a new impulse started from 10600 levels and finished at 11850 and the move from 11850 to 11100 and then to 12103 and now to 11625 is part of a-b-c complex corrective. C has either completed at 11625 already or it can drop a little more (and become equal to a wave). Now once C is completed Nifty will start impulse of wave 2 which will take Nifty to 12700-13K levels minimum.
2. Bearish scenario: Now here we assume ( and its looking like a very strong pattern) that entire move from 10600 levels is developing like a ending diagonal/contracting triangle which probably finished D leg yesterday at 11625 & started E leg today. Once E leg is finished ( should remain smaller than C leg) market will open a strong impulsive wave on the downside & Nifty will touch 10700-10500 minimum in that case.
Now you might say that we are talking about both the possibilities and its of no use but pls keep in mind that we are talking about 800-1000 point movement on either side and whenever market is poised for such a big move it likes to keep people guessing and keep them confused. But if you carefully observe the market movement for next few trading sessions you should be able to guess which way market is moving or about to move. Key here is to not get caught on the wrong side cause if market catches you on the wrong side and trend begins on the opposite side, your entire capital can be wiped out. Another important thing is that one should not try to catch bottom or tops in such market but wait a little before committing, since the expected move is big, one can still make a killing even if he enters a little late.
So in a nutshell, we are at a very critical juncture and soon Nifty will decide whether its moving towards 10500 levels or 13K so one needs to be extremely careful and go full throttle when the confirmation comes. As always if you wish to join us for our whatsapp real time updates/trading recommendations during trading hours then you may join us using below link:
http://niftywaveindia.blogspot.com/2019/02/join-us-on-whatsapp-how-to-subscribe.html
Happy Trading!
Today we are not going to discuss what markets did today or what its going to do tomorrow but we are going to have a look at slighter bigger perspective and discuss what it is going to do in next 15-60 days. Todays update is critical so read it carefully.
In our previous post we had mentioned that markets are at a very critical pivotal point and the sideways trading we are witnessing is probably wont continue for long and Nifty could start moving in a strong trend pretty soon. After seeing last 2 days move by markets this view has become even more stronger and we are reasonably sure ( mind you nothing is 100% sure) that the big trending move we have been talking about ( in either direction) is about to start pretty soon.
Lets see the 2 possible scenarios and their outcome-
1. Bullish scenario: This scenario assumes that a new impulse started from 10600 levels and finished at 11850 and the move from 11850 to 11100 and then to 12103 and now to 11625 is part of a-b-c complex corrective. C has either completed at 11625 already or it can drop a little more (and become equal to a wave). Now once C is completed Nifty will start impulse of wave 2 which will take Nifty to 12700-13K levels minimum.
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| Nifty Intraday Chart |
2. Bearish scenario: Now here we assume ( and its looking like a very strong pattern) that entire move from 10600 levels is developing like a ending diagonal/contracting triangle which probably finished D leg yesterday at 11625 & started E leg today. Once E leg is finished ( should remain smaller than C leg) market will open a strong impulsive wave on the downside & Nifty will touch 10700-10500 minimum in that case.
 |
| Nifty Intraday Chart |
Now you might say that we are talking about both the possibilities and its of no use but pls keep in mind that we are talking about 800-1000 point movement on either side and whenever market is poised for such a big move it likes to keep people guessing and keep them confused. But if you carefully observe the market movement for next few trading sessions you should be able to guess which way market is moving or about to move. Key here is to not get caught on the wrong side cause if market catches you on the wrong side and trend begins on the opposite side, your entire capital can be wiped out. Another important thing is that one should not try to catch bottom or tops in such market but wait a little before committing, since the expected move is big, one can still make a killing even if he enters a little late.
So in a nutshell, we are at a very critical juncture and soon Nifty will decide whether its moving towards 10500 levels or 13K so one needs to be extremely careful and go full throttle when the confirmation comes. As always if you wish to join us for our whatsapp real time updates/trading recommendations during trading hours then you may join us using below link:
http://niftywaveindia.blogspot.com/2019/02/join-us-on-whatsapp-how-to-subscribe.html
Happy Trading!
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