NIFTY AND BANKNIFTY UPDATE 26TH MARCH 2018

Morning !

As per my previous post NIFTY AND BANKNIFTY UPDATE 9TH MARCH 2018, below is the excerpt for the update i did on 12th March.

"Adding the updated wave counts below the previous chart and hence this should be potentially the last fall in the zone of 10150-10000-9915 for the final upside of WAVE 5 as mentioned in the update."

I also updated wave counts of NIFTY for the ongoing downward movement in the chart in both posts 9th and 12th March,in an assumption that the upward movement from 10141 to be C.4, but after it touched 10478,the wave lengths of C.2 and C.4 seem to be strange to and hence i updated them after analyzing them in detail. 

Though the fall anticipated in NIFTY has happened but the wave structure looks to be slightly different and extended as compared to the 7 day fall of Wave A from 11171 to 10276 hence making it a sharp fall versus the ongoing fall of Wave C from 10631 to ongoing 9952 so far, which has taken almost a month from 26th February 2018 till date.

Hence, i am again updating the wave counts of the fall from Wave C starting from 10631 till date.

Below are the detailed wave counts for WAVE C from 10631 till date 9952

Wave C

C.1 -    10631-10141 (Total 490 Points)

C.2-     10141-10478

C.3.1-  10478-10337

C.3.2-  10337-10419

C.3.3-  10419-10051

C.3.4-  10051-10026

C.3.5-  10026-9952 (or a new low on 26th March 2018) End of Wave C.3 (So far 526                    Points)

C.4-     9952 or slight low below potentially 9900 to 10000-10100-10141 (since 10141 is                end of wave C.1 hence non overlapping rule

C.5-     Potential 10000-10100-10141 to 9800-9700-9600 zone (Assuming 400 points                    from 10100 or 400 points from 10000

End of wave 4 9800-9700 (9600 extreme case) this should happen within next two weeks range (an estimated time frame)

Below is the updated wave count chart for NIFTY as per what has been mentioned above

BANKNIFTY update: 

The zone anticipated to be last was 23900-23600, which has been touched on Friday at 23605, so anticipating a reversal for the same in the coming week, before NIFTY for the same targets of 30000 + levels in the coming months, as mentioned in the 16th OCTOBER 2017 post. 

NIFTY AND BANKNIFTY UPDATE ON 16th OCTOBER 2017

I am always available to respond to queries.

Happy Trading !

NIFTY AND BANKNIFTY UPDATE 9TH MARCH 2018

*NOTE: UPDATE ON 12th MARCH 2018*

Today's uptrend looks to be a C.4 instead of C.3.4 as marked in the wave counts.
C.3.5 seems to be finished as a truncated wave at 10146.40 slightly above C.3.3 which made a low of 10141.55, hence completing the full WAVE C.3 at 10146.4 and reversing for upside.
Adding the updated wave counts below the previous chart and hence this should be potentially the last fall in thE zone of 10150-10000-9915 for the final upside of WAVE 5 as mentioned in the update.

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Morning!

As per my previous post on 16th October 2017 - NIFTY AND BANKNIFTY UPDATE ON 16th OCTOBER 2017

Below are the excerpts from previous post on Indices:

" I am updating my wave counts for NIFTY since 6825. 

WAVE 1: 6825 - 8968

WAVE 2: 8968 - 7893 (Sharp Wave 2 from 7th September 2016 to 26th December 2016)

WAVE 3: 7893 - 10137

WAVE 4: 10137 - 9687 (Sideways Irregular Flat Wave 4 from 2nd August 2017 to 28th September 2017)

WAVE 5: 9687 - Potential (10825 - 11325 - 11825) Time frame 3 to 4 months "

The fall triggered on 29th January 2018 from 11171 appears to be the complete WAVE 3 of the above wave counts which started from 7893 and went onto make 11171, hence making it a 3278 points wave.

I updated for intermediate buying to one of the followers on 10th December 2017 in my replies to his query on my blog from - "buy in zone of 10050 to 9950 with a SL of 9900 and target of 11000 plus levels.".

The above update was aligned with the ongoing uptrend in Nifty.

I again updated on 23rd January to the same person in my replies, which goes like this:

"Yes you are pretty much in sync with the current uptrend to take a break, the time is very near, the only issues is that usually people are not well equipped to deal with the volatility which is going on right now and will continue to increase in the coming days, so I would advise to book profits in this zone of 11000 to 11100 and wait for a fall till 10700-10600 zone to reenter, with a SL you can manage because there is a very high probability that the SL gets triggered in this highly volatile environment. I anticipate both NIFTY and BANKNIFTY to correct in coming couple of weeks and since BANKNIFTY is bigger in terms of number than NIFTY hence I anticipate more fall in terms of absolute numbers and not in percentage as compared to NIFTY. So, trade accordingly."

Actual fall triggered after the long weekend of 26th-27th-28th January, right from the very next day i.e., 29th January 2018, after 3 trading days of my giving a caution advise to exit longs.

As mentioned above that the wave 3 looks to be longer- Actual 11171 vs Anticipated 10137. by almost 1000 odd points. The last wave of within wave 3 i.e., 5th of this 3rd wave started from 7893 went onto be an extended one and hence a sharp rise, therefore covering 1100 odd points in just 36 trading days (from 10033 made on 6th December to 2017 to 11171 made on 29th January 2018.

Updating the wave counts for the same target of 11525, 11825 and 12025 also

WAVE 1: 6825 - 8968

WAVE 2: 8968 - 7893 

WAVE 3: 7893 - 11171

WAVE 4: 11137 - 10000-9900 zone or 9800-9700 zone (Potential reversal zones for wave 4 to end)

WAVE 5: Potential (10000-9900 zone or 9800-9700) to Potential (11525 - 11825-12025) Time frame 4 to 6 months

I am also updating the wave structure of this ongoing wave 4 from 11171 to so far 10141.55 in chart and in text below

WAVE A: 11171 to 10276 

WAVE B: 10276 to 10641 WAVE B

WAVE C: 10641 to Potential 10000-9900 zone to 9800-9700 zone

For detailed wave counts/markings, please refer the chart.

I am active in replying to queries, whenever there is one from someone.

Happy Trading !