Everyones wondering whether we will bounce from here or we get more selling before the bounce. I guess we will fall more but just a bit. We haven't really formed any reversal pattern or candlestick till now. First lets take a look at FIBO levels which are being obeyed in this fall. Chart below looks good. Here we can also see that the wedge support line hasnt been touched. The fibo levels has another good target at 4693.We will touch the lower red line by that level.
On the daily chart i have drawn a few parallel lines. These parallel lines have given fantastic entry and exit points. The thick ORANGE line below hasnt really been touched . I guess that will be done and then a reversal will happen . Not much to travel though.
I have been seeing in Nifty, that the FALL ( or RALLY) at various points of time have been EQUAL to FALLs ( or RALLIES ) at other points. So we try to match the current fall with the BIG fall we had at the beginning of the year. Below we see the two FALLs marked by the green and red ellipses. According to that , both will be equal when the current FALL touched around 4690.
On the daily chart i have drawn a few parallel lines. These parallel lines have given fantastic entry and exit points. The thick ORANGE line below hasnt really been touched . I guess that will be done and then a reversal will happen . Not much to travel though.
I have been seeing in Nifty, that the FALL ( or RALLY) at various points of time have been EQUAL to FALLs ( or RALLIES ) at other points. So we try to match the current fall with the BIG fall we had at the beginning of the year. Below we see the two FALLs marked by the green and red ellipses. According to that , both will be equal when the current FALL touched around 4690.
Jonak,
ReplyDeleteYour other articles are also quite insightful.
The funny part of market movement is it's never perfectly symmetric or geometric. It only follows the pattern not the dimension. If everybody thinks it's the level, it's just not!
Regards,
Rajib
noted
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