UPDATE ON NIFTY AND BANKNIFTY'S TREND on 28th September 2016

Morning !

NIFTY WAVE COUNTS mentioned in my last post

WAVE 1 : 6825-7777
WAVE 2: 7777-7516
WAVE 3: 7516-8850 to 9000 zone Actual end at 8968
WAVE 4: 8850 to 9000 Actual top 8968 till 8650-8450 zone potential
WAVE 5: 8650-8450 to 9119+ levels like 9150-9350-9550 (Estimated top will have to wait for the wave structure)

The top of WAVE 3 was in between 8850-9000 at 8968. Now wave 4 has further sub divided into A B C
WAVE 4 A: 8968-8688
WAVE 4 B: 8688-8893
WAVE 4 C: 8893- (8650-8450) POTENTIAL


This wave 4 will end with 4C and the windows for this is highly like to finish around last wave 4 low i.e., 8540 created on 28th August.

Since this is an impulsive wave correction, i would advise to start exiting your shorts between the potential zone 8650-8450....and.....by looking at the wave structure.....creating a buy position will be best in zone of 8580 +/-
30 points....i.e., 8550-8610 should be a good buying zone for final target of WAVE 5 in zone of 9150-9550 for the next 2 to 3 months.

BANKNIFTY WAVE COUNTS

WAVE 1 : 13407-16282 (29th February 2016 to 31st March 2016)
WAVE 2: 16282-15440 (31st March 2016 to 11th April 2016)
WAVE 3: 15440- 20000 to 20100 zone POTENTIAL (Actual top 20575)
WAVE 4: 20000 to 20100 zone (Actual 20575) to Revised zone of 19400-19000 POTENTIAL
WAVE 5: Revised zone of 19400-19000 POTENTIAL to 21500 to 22000 zone POTENTIAL

FOR BANKNIFTY the buying can be triggered around 19300-19100 zone for upside final targets of 21500-22000

PS:  The only reason i do not update my blog daily is that i don't see the pattern changing on a daily basis, i only post when i see potential reversals both on upside and downside.

Happy Trading !

UPDATE ON NIFTY AND BANKNIFTY'S TREND on 6th September 2016

Morning !

Yet again, NIFTY and BANKNIFTY corrected, but the zones mentioned by me were 8450-8380 and 19000-18800 respectively. This time again the correction anticipated from top were 300-350 points for NIFTY but again, the correction happened only for 200 odd points but the reversal that happened was immediate from 8543 for new high of 8824 as of now and for BANKNIFTY, it went down to 19096, which was 400 odd points from top of 19493 and for it also the reversal was immediate with a rise of almost 900 odd points.

In my post mentioned on 19th August:

Below are the wave counts for NIFTY

WAVE 1 : 6825-7777
WAVE 2: 7777-7516
WAVE 3: 7516-8728
WAVE 4: 8728- 8450-8350 POTENTIAL ZONE
WAVE 5: 8350-8450 TO 9150-9350 POTENTIAL

WAVE 3 is still going on and should end in zone of 8850-9000 POTENTIAL
WAVE 4 is yet to come which should be till 8650-8450 zone POTENTIAL
WAVE 5 : 8450-8650 zone to 9350-9550 POTENTIAL

I am posting wave counts for BANKNIFTY also:

WAVE 1 : 13407-16282 (29th February 2016 to 31st March 2016)
WAVE 2: 16282-15440 (31st March 2016 to 11th April 2016)
WAVE 3: 15440- 20000 to 20100 zone POTENTIAL 
WAVE 4: 20000 to 20100 zone to 19000 to 18600 zone POTENTIAL
WAVE 5: 18600-19000 zone to 21500 to 22000 zone POTENTIAL

I mentioned that the reversal will be very fast, they were it is just that in NIFTY it reversed 150-200 points and in BANKNIFTY it reversed from 100-200 points before.

Please keep in mind these wave counts while taking positions.

Happy Trading !