As per our preferred count Nifty achieved target of 5060. So the current up-move looks complete at 5064 and hence I have labeled it as B leg of the final Z leg of the Triple Zigzag.. And the major C leg would start from Monday.
As per Fibonacci Nifty completed .618 of A leg (5400-4531).
As per W.D. Gann's Techniques 23rd Jan is Bearish Reversal Day.
As per W.D. Gann's Techniques 23rd Jan is Bearish Reversal Day.
As per candlesticks Hanging Man is a Bearish reversal pattern.
RSI giving Hidden/Negative Bearish Divergence on Nifty as well as Most of the Indices & stocks.
So BULLS BEWARE.. We have already given you early warning on Thursday it self.
Trend would resume to Bearish below the upward sloping channel. 4930.. And below 4800 Bull will be Dead. As Break below 4800 implies that our counting is correct. And 4530 is not the Bottom. Nifty will make New low if 4800 is broken in this fall.
If 4800 is not broken then I will look for alternate count indicating 4530 as Bottom.
But currently I'm nearly sure that 4530 is not Bottom and Nifty will make new low.
In past six months we deed it really well:-
from 4700-5400 then 5400-4700 and again from 4700-5100 we were right in predicting these moves. At 5100 we called for 4300-4400 but we changed our view below 4700 itself.. Again we were right in calling for 5000+.
And now we are aiming 4300 or 3900 or worst case 3600..
Well as I always believe that it is not being right or wrong but it is more Imp. how much you earn when you are right & how much you lose when wrong.
So the day I will find I'm wrong I will simply book my losses and move on with Market.
Happy Minting,
Thanks & Regards,
Harsh Dixit.
nice..means bulls market is likely to get over.
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