DON'T EXPECT MORE FALL IN NIFTYNeo wave Extracting triangle pattern(Limited corrective activity)is just completed in NIFTY INDEX.
It is over assumed and corrective action completed as c5 corrected only 0.618 times of c1
16855(c5 low) is the stop for longs and cross above 18000 is the indication for next bull market
Earnings season, Covid relief, short covering may fuel the market
Extractingtriangle
NIFTY FORMING EXTRACTING TRIANGLE On TODAY (15/03/21) NIFTY completed its 4th leg(waveD) of the Great NEO wave's EXTRACTING TRIANGLE pattern
This is a TERMINAL pattern which has 5 legs(marked in yellow) ,
The uplegs (A,C,E) are shorter than previous, and Down legs(B,D)are larger than previous legs.
This phenominal distribution pattern Iis tricky for traders and those understands well can make more Money after it completes its 5 th leg E
GO short in NIFTY near 15138 on 17th march for a target of 14372 (A)=(C)
Neo wave time cycle allows me to find the DATEs of terminus also for easy entry and exit.
For a profitable trade setup it is worth waiting for RIGHT TIME.
SELVAM B
option buying strategist
No wave practioner