NIFTY 50 ANALYSIS
Updated
When you look at the 2 yearly chart with highs and lows plotted and connected accordingly, we can clearly see the trend is corrective. The first move up is very simple , can be one monowave or 3 which i labelled as A. A could have ended at either of the first two pivot highs plotted around 1992 or 1994. The next piece is clearly a corrective pattern which took more time than its preceding move so we label it B. B is probably an expanded flat. The third move cannot be an impulse because of the structure , time . It is a 3 wave move with missing waves. So most likely a double zig zag followed by X like i've marked and another double ziz-zag. Remember these are so simple because at the end of the day you have to reduce complexity in your charts to come to a better conclusion/analysis. After the violent drop in 2007 which i labelled A ( because in a flat or a triangle A's are always violent and C waves eat up complexity and time). The move from 2008/2009 low is all counter trend price action ( most probably a B wave because there are no violent moves towards the upside. For you to understand some massive advance has started to the upside , you need to see a move bigger than the violent drop in 2007. It has to happen faster as well and since we did not get any of that we can comfortably come to a conclusion that the move from 2007 is all part of counter trend price action. The important levels to watch for nifty here is 13000,13500,14000 and if we start consolidating above 14000 then the last final target you would look for is 1:1 extension of (blue)A wave of the diametric pattern for (blue) G wave of the (red)B wave. this counter trend price action ( complexity ) can only be a part of B wave and nothing else. I think the market will keep making new highs until the next 1-2 years and then look for a major drop which is as violent if not bigger than the biggest correction and most violent move of the diametric. In simpler terms , A 20-25% decline in a fast way confirms this idea and you can comfortably short the dead cat bonuce followed after the drop to as low as 6400. That would be my final target. I'm going to keep updating these charts and post new links and keep you guys in the loop if anything changes. The long term look stands just as this. Thank you. This is no financial Advice. These are just my thoughts and opinions based on rules from #NeowaveTheory.
Trade active
Well Since i posted this analysis , we have been continuing up for Wave G of Larger B wave. I still expect 18K to be tagged in 2021/2022. ON the LTF's I am looking at something like this Trade active
Update for targets for g of G of B Wave -- Note
PP
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