Nifty Observation: -
Tomarrow is the expiry fot the August month. Today as well good move on downside But we have already removed all our short yeterday with good profit, so no worries.
Today I could observed the +ve Divergence with price on RSI, MSCD and Stocksticks Oscillator which tell me that tomarrow will be minor correction on upside and then move down near to the todays low as per EW label seen in the following chart.
So let us watch tomarrow move before going for any predication. But if nifty price is moving down and breaks the todays low @5288(LOG) then it could be the last wave count as a 5 wave. So it might be the good time to look for the + ve divegence on the Hourly chart to firm on our view that Nifty will correct the complete down rally from 5458 to tomarrows low. This correction in the form of ABC pattern on upside. So Lets Wait and Watch!!!
Tomarrow is the expiry fot the August month. Today as well good move on downside But we have already removed all our short yeterday with good profit, so no worries.
Today I could observed the +ve Divergence with price on RSI, MSCD and Stocksticks Oscillator which tell me that tomarrow will be minor correction on upside and then move down near to the todays low as per EW label seen in the following chart.
So let us watch tomarrow move before going for any predication. But if nifty price is moving down and breaks the todays low @5288(LOG) then it could be the last wave count as a 5 wave. So it might be the good time to look for the + ve divegence on the Hourly chart to firm on our view that Nifty will correct the complete down rally from 5458 to tomarrows low. This correction in the form of ABC pattern on upside. So Lets Wait and Watch!!!
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