Nifty futures to fall hard!

#4
A two to three day pullback is expected.

The price movement during the past two days suggests that wave 1 finished at the Thursday low and wave two is in progress. Expect prices to move to 5550+/- 50 points to finish wave 2 in next 3 trading sessions.
Utilize this opportunity to build short positions for the next wave 3 down. The minimum targets as before are 4800 levels. Stay tuned.
 
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#5
The downtrend resumes in earnest!

Nifty goes back to its downtrend as expected. Hold shorts.
There might be a weak bounce around 5245 cash basis but dont be tempted to buy.
The quick first target is 5050, and a short term target of 4810 is there for the asking.
 
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#6
Nifty futures turned up from 5110, short of the first target of 5050. The rise has gone up enough to negate the wave 3 scenario postulated earlier.
The short term trend is up but we feel it is risky to go long now.
Let us wait for more clarity to emerge.
The wave count in bank nifty and CNX finance is much more clearer. I shall post their charts shortly.
 

whisky

Well-Known Member
#7
Will wait for your views on BankNifty:thumb:
 
#8
Nifty futures went up in five waves to today's high. As such this signifies a possible, repeat possible trend change. So bears have to trend carefully. However at today's high, wave v is 0.61 times wave iii which is a common relationship. Also see the marked bearish divergence between price and MACD histogram.
We expect a quick correction to 5360-5390 levels in the coming two days.
 
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a1b1trader

Well-Known Member
#9
Hi Singhvi

Good analysis
Keep it up

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