WILL NIFTY REPEAT THE HISTORY?

Hi Friends,


Nifty has been sliding continuously since last few weeks and there is no respite for Bulls.


Though It witnessed intermediate Relief Rallies; It is still missing Long Haul of Bull.


But when this correction will End?


Well as the logic says in Adversity lies Opportunity. 


Currencies Globally have already started Reversing, Indices have yet to begin.

NIFTY

On Daily Chart Nifty managed to give closing above 4830 & 5 wave decline in the C leg Looks Complete. Also We have Positive Divergence On RSI. So today's low Might be the Bottom for Nifty. But on Intra-day Chart 5 wave decline still appears incomplete. And 1 last leg Down in Panic Sell Off may take Nifty lower to 4729 or 4703.


VIX Also Reaching near 30. So I'm awaiting such Panic Sell Off & VIX to touch 30 levels.

INDIA VIX

Once this Downward Correction gets over Nifty is likely to retrace up to 61.8% to 78.6% of the Entire Fall.

NIFTY

So lets Wait & Watch.


Thanks & Regards,


Harsh Dixit.