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In NIFTY50 it was suggested to sell from the peak you can see in the chart and from that point nifty has fall nearly 550 point.
Performance Chart
Have you remember NIFTY50 analysis if not -> CLICK HERE TO SEE
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Corrective Wave 2 is slightly higher than 50%.
The key learning here is Wave 3 important retracement levels as 261.8% at 12050 nearby and 11516 at 227.2%.
Impulsive Wave 3 is extended. When Wave3 is equal to 161.8% or more than it, it’s called as extended wave 3. In this case, you can see Wave 3 is extended. This is really important, because its decide wave 5. Wave 3 between the 261% to 227.2% ended.
Generally, Wave 4 traveled 38.2% to 50% in most of the case. More likely, expected fall or Wave 4 can be in rage of 11530-10070 before starting 2021.
Breaking down parallel channel will clear sign of corrective wave 4.
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BANKNIFTY Performance chart:
Have you remember analysis on BANKNIFTY Chart? If Not, –> Click Here to see
I had mentioned that Bank-nifty already started to look for the 4th Wave.
From Support : 32.8% at 23003=23134 & 50% at 22327, The price can travel for the 5th wave which can be above the 3rd wave.
Our First Target has been achieved by BANKNIFTY. Reversal is ready!
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Did You Remember TCS analysis? –> Click here to see
I had mentioned that investors will be more active at that particular time and told to buy and go for long. On TCS nearly 168 point bounce has come cheers everyone.
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The 80 points profit…
NIFTY50 NSE:
by keeping today’s high as stop-loss that is 11790
Sell nifty 11780-11773
Target 11700
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Bank-nifty already started to look for the 4th Wave.
From Support : 32.8% at 23003=23134 & 50% at 22327, The price can travel for the 5th wave which can be above the 3rd wave.
Get ready soon for short NIFTY, because of A, B, and C correction.
The only question for traders, where is B?
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In the last update TRADE-SETUP was:
Buy 8865 and successfully price traveled to target at 9834
Profit as per moved 1146 points.
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9584 Above, the target is valid 9990.
Short selling Zone broad 9990-10272
The parallel channel connected 2W and 4W with projected to 8731: Resistance detected 10135 nearby