As I perceive, 3rd wave from 5933 may be over at 8627 and 4th is in progress. Currently, 4.B.c is being measured and may land up at 8490-8500 after dipping between 8350-8330. This, once done, will be followed by 4.C, which should not only go below 7961, but may also test 7723. Here are the charts depicting my perceptions:
 |
| Nifty : Containment Zones based on Trend Lines |
 |
| Nifty : EW on Daily Chart |
 |
| Nifty : EW on Hourly Chart |
dear falcon,according to ur post,have we reached upper target of 8492 on 4-1-2015,or yet to go up some more.will we get ur target of sub 7800 in jan itself or later?
ReplyDeleteDear Rashmi, answer is No it did not do 8492. And it also did not do 8080 etcduring the previius fall. Problem is that possibilities are many. And since the backtest was not.done during the rise, I suspect that this fall may be retraced back to t do the back test. 7961 will remain a crucial point and so will be 7723. Let us see. The entire scenario for the bulls has been reset and the new setup is yet to convince me.
ReplyDeletethnx falcon.plz post ur latest analysis if possible.
Delete