Nifty is interestingly poised.Wave 1 of C of Diametric D was on for 26 days and rose by 578.20 points. Wave 2 took 40 days. Wave C took just 20 days to rise 598 points.Wave 4 should take at least 20 days and end by November 2 to 5.Different wave sections are shown in boxes. In our previous post we had mentioned that the terminal impulse in minor wave 5 of 3 should end by 5640, and that could be the first leg of wave 4 of one larger degree. So we wait to see whether 5640 is breached. That will mean wave 4 is truly on.
So what next? Let us use Financial Astrology. Based on planetary aspects and lunar behavior we have shown three bands. Yellow is neutral with a negative bias, green is positive and of course red is negative.Planetary positions and impacts have been covered in detail last Sunday.
First level to watch is 5640 and then 5585 to 5587.Any upside seen on Wednesday morning or Thursday may be sold into.Expect a b wave recovery from next Monday onwards till Oct 19.From Oct 22, the fall should continue as c wave of wave 4. We will then know whether it is to form a triangle with 2 more legs d and e . This bouncing on and off ought to continue till November 3/6 or earlier till Oct 30.
We continue holding shorts with a stop loss of 5751.
Of course all depends on Miss Nifty and what she decides to do. We all know her as a rather whimsical lady!
Needless to say, markets are turning treacherous and so stop losses are a must. No anticipation gives you profits with peace of mind.
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