We might get one day of sideways - fractal move to complete wave 4
Nifty target is set for 16230 levels - and if we get lucky we might even see 16100 levels.
After this there will be some relief rally to 16500 levels before we continue to go lower.
Levels for reversal 16230 to16100 for major reversal from downside
Look at Falcon Wave count:
Nifty target is set for 16230 levels - and if we get lucky we might even see 16100 levels.
After this there will be some relief rally to 16500 levels before we continue to go lower.
- Major trend is downwards
- Weakness continues
- 100-150 points upside in the morning followed by downward pressure will continue
Levels for reversal 16230 to16100 for major reversal from downside
Look at Falcon Wave count:
Note
RBI rate hike by 50bps This on our chart helped in forming wave 4 - and now moving towards wave 5, please remember wave 5 will not form in one candle, market goes down in zig zag fashion.
Focus on wave 5 (mentioned in white) and then move up in red for wave 2 as shown in the chart above.
Note
Nifty50 moved as per analysis, wave 4 completed and downside continues towards wave 5. I have changed target to further downside. Here is the new chart with new target: Looking at below 16200 levels. After this there will be some bounces higher.
Note
Alternative count - if wave 3 has not finished (this is most likely case) and it can take price to 16100 (below) levels. Expiry is tomorrow - so my trade will be bearish - and hope for gap down for tomorrow.
Falcon Trader
Trading Courses charts-stocks.com
_________________________________
Ask for any script Falcon Wave count by DM
Twitter: @Falcon_Trader_1
Trading Courses charts-stocks.com
_________________________________
Ask for any script Falcon Wave count by DM
Twitter: @Falcon_Trader_1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Falcon Trader
Trading Courses charts-stocks.com
_________________________________
Ask for any script Falcon Wave count by DM
Twitter: @Falcon_Trader_1
Trading Courses charts-stocks.com
_________________________________
Ask for any script Falcon Wave count by DM
Twitter: @Falcon_Trader_1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.