Seems like a ivth wave unfolding from 7595 to 7670, coinciding with 61% retrace of last fall. Above 7672 it would invalidate the ivth and hence would mean an ABC complete and start of a new five waves upwards - is that one of the views Sir ?
@ Trader Junkie ,If "iv"th wave is unfolding as shown in 2nd chart, it could move towards 7700, the channel resistance and then fall..hence, we have "7594 to 7672 retrace" in the TT for that "c" possibility.
"7657", being DLEma, weakness continues below it; strength, mild one, returns above "it".
got it Sir
@Prabhanshu,Check the link http://prntscr.com/49dklb, for +ww on Rel capital already triggered for a target of 610. Am I right ?? Pl. guide.
@Master,Is it necessory that 'iv ' always break channel and come back in to channel??
3.00PM TT & Chart Updated.
@ Prithvi Raulji It does break it often times, though it is not a rule.
Master,1 more Q,A daily MACD trigger on Thursday,And it is most imp for trend,So can we used any upmove to re enter sell??
Rajesh ji, pattern seems to be correct. To trigger, prices shd close above 1-3-5 line for 2 15 mins. If it has done then yes it triggered
@ Prithvi Raulji,7696-7714 is 21 & 34 Hr Sma which coincide with 50%-61.8% retrace of the fall from 7799 at 7697-7721.Strength would be above these. Selling it closer to such resistances would make the SL very small.
Retraced 80% of Friday's fall
In bank nifty future the premium of 95 points needs a closer look