Till Nifty breaks below 5170 I am not considering any bearish count at all, that's my short term invalidation point of this up move. I had already mentioned in my last post that there is a possibility of prices testing the 5250 - 5220 range, and that is precisely where we are today. Both RSI and STS are at oversold levels, can we really form a bottom in this zone, remains to be seen. I ave labelled the chart with two possibilities, one bullish and another super bullish (alternate count). The series of 1-2/1-2 waves marked on the chart, have their 2nd waves as flats, and if you look at the wave {2} label it can also be counted a flat, this is my super bullish alternate count. Our original count is still in place. So if this super bullish count is followed we are on the verge of an explosion in prices, or else the steady rise should continue, as long as we stay above 5170 levels.
My Dear Aniruddha
ReplyDeletei am silently studying you nice studies of EWP. thanks for valuable inputs. in the present study i prefer your count of 4th wave and its invalidation point at 5170. this holds the crux for the coming days.
best of regards
My Dear Aniruddha
ReplyDeletei am going through EW Explained by RCBeckman. at some points it is confusing. your studies are helping me understanding from pracital angle and also it is live. how can i become a member of your blog? i have already enrolled in email section.
best of regards
You can click on the "join this site" button and follow simple instructions. And thanks for the adulation.
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Aniruddha