Morning !
There was no post on my blog in the whole 2019. Primarily because the market was just oscillating in a range and not completing the targets of 12325+ as anticipated.
The pattern took its own time to complete and now finally yesterday, 20th January it completed it by one big gap up and made 12430.
There have been further revisions in the wave counts, as the pattern unfolded in the whole 2019.
I am attaching the updated NIFTY chart for quick reference.
The last rise from 9951.90 made on 23rd March 2018 is where the final wave 5 started on upside and its a long ending diagonal happening since.
5.A - 9951.90 - 11760.20 (23/03/2018 to 28-08-2018)
5.B - 11760.20 - 10004.55 (28-08-2018 to 26/10/2018)
5.C - 10004.55 - 12103.05 (26/10/2018 to 03/06/2019)
5.D - 12103.05 - 10637.15 (03/06/2019 to 23/08/2019)
5.E - 10637.15 - 12430.50 (23/08/2019 to 20/01/2020)
Marking this last wave five smaller wave counts as ABCDE as they are a part of ending diagonal, which do not have the structure of typical 12345 impulsive waves but have further patterns of abcde within them.
The target of 9119 remains intact and this time the crack looks to be sharp on both sides down up down.
Potential wave counts should be a fall from 12430 to 10200 a rise to 11200 and a fall again to 9119 zone.
The structure of the fall could be a sideways but a deep sideways and time consuming, estimated to be 18 to 24 months.
(Predicting time to perfections is just an attempt by looking at the pattern as the markets are random, what pattern comes out cannot always be predicted precisely)
Note: Stop losses are as per your trading capacity...for any sell made here SL will be strict 12431.
Happy Trading !
There was no post on my blog in the whole 2019. Primarily because the market was just oscillating in a range and not completing the targets of 12325+ as anticipated.
The pattern took its own time to complete and now finally yesterday, 20th January it completed it by one big gap up and made 12430.
There have been further revisions in the wave counts, as the pattern unfolded in the whole 2019.
I am attaching the updated NIFTY chart for quick reference.
The last rise from 9951.90 made on 23rd March 2018 is where the final wave 5 started on upside and its a long ending diagonal happening since.
5.A - 9951.90 - 11760.20 (23/03/2018 to 28-08-2018)
5.B - 11760.20 - 10004.55 (28-08-2018 to 26/10/2018)
5.C - 10004.55 - 12103.05 (26/10/2018 to 03/06/2019)
5.D - 12103.05 - 10637.15 (03/06/2019 to 23/08/2019)
5.E - 10637.15 - 12430.50 (23/08/2019 to 20/01/2020)
Marking this last wave five smaller wave counts as ABCDE as they are a part of ending diagonal, which do not have the structure of typical 12345 impulsive waves but have further patterns of abcde within them.
The target of 9119 remains intact and this time the crack looks to be sharp on both sides down up down.
Potential wave counts should be a fall from 12430 to 10200 a rise to 11200 and a fall again to 9119 zone.
The structure of the fall could be a sideways but a deep sideways and time consuming, estimated to be 18 to 24 months.
(Predicting time to perfections is just an attempt by looking at the pattern as the markets are random, what pattern comes out cannot always be predicted precisely)
Note: Stop losses are as per your trading capacity...for any sell made here SL will be strict 12431.
Happy Trading !
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