On Dec 16, Bank Nifty opened small Gap Up and immediately came down. My understanding that wave c of possible correction will move up was not correct. Rather now there seems to be more clarity on pattern. What I assumed, completion of ED was not right. I was also surprised by not seeing expected move expected post completion of ED. The continuous fall and immediate recovery normally personality of waves in triangles and I thought of formation of ED on bigger time frame and what I thought of completion of ED is a part of ED. It seems to be likely possibility now.
I mention in the weekly post on Dec 12 "13
weeks from Sep 22, is week starting Dec 19 that also contains Dec 21
i.e. Solstice date. Hence I consider this week as very important for
markets and also for Bank Nifty." Will this week give us a New Low in the form of wave 3 of ED near Dec 21? Watch out.
Comments
Post a Comment