We had expected a reversal on Nov 08 and Nifty did do so today on the back of weak global cues.We expect the weakness to continue tomorrow ( Nov 09, Friday) also to continue and start the bottoming out process for Wave 04.
Here is a chart of Nifty 15 min, with just the last legs marked out.
Now that the wave 4 of Wave C of the diametric D is about to be completed and wave 5 is about to begin, a look at the long term weekly chart is in order.....
It continues to be a buy on dips market and if the Nifty dips below 5700, it is a fine opportunity to buy.Since the Lunar growth period is continuing after November 10, the uncertainties of market will be discarded or glossed over and Nifty may move upwards.
Have a great Friday of trading!