When Nifty touched 5097, it reached the highest point so far since the bottom of 7724.The aqua cycles represent 40 day cycles.Since we have completed 63 bars so far, we may safely surmise that the entire aqua cycle is now right translating.This is very clear when we compare the market behaviour during the past aqua cycle.
This means the current trend has reached maturity levels and the risk reward ratio is not in favour of buying.This also means that the next aqua cycle is most probably going to be bullish. And we may expect Nifty to now form a higher bottom.
In the very short term, if hourly bar closes below 8053, we may go short.
And once Nifty reverses, we may buy for positional trading.
14 comments:
My Dear Sureshji
As usual brilliant sum up.
Thanks
Regards
Kannan Srinivasan
nifty touched 8097 and not 5097 as mentioned
Sorry, that was a typo.Anyway Nifty has now touched 8180 and that makes the present and the next cycles as pretty bullish.
Thank yo Kannan. Your encouragement mean a lot!
time to see long term wave count........your larger F still continuing ...not topped out at 8180 in September....
As per your study you had told nifty will make higher low first before making hihgher highs
what will be ur analysis now and how do see the nifty movement in november.
http://niftyastrotechnicals.blogspot.in/2014/10/nifty-astro-technicals-october-18-2014.html?m=0
Dear Pankaj,
Please see this post dated October 19.This was the last I had shown larger counts.My bias then was option A.In this you have one more xabc in wave F.There can be a maximum of 2 x waves in a complex correction.We are currently in wave b of wave x.So there has been no change in my wave counts.Wave G will definitely be down and for a longer period and I am expecting that only in Jan 2015.I shall post the chart tonight.
Dear Naveen
I had always maintained that Nifty till January will be going higher.Through various posts, some technical,some using time price relationships and some using astro, this expectation had been shown.I do not specifically remember saying that Nifty will make a higher bottom first before making higher highs.What I had been telling is that since the hourly and daily momentums are overbought,true upmove will begin after an imminent down move forming a higher bottom.In factvI had shown the angular relationships in weekly momentum charts to support this.What had been surprising to me was the ferocity of this up move.Still I expect a smaller wave c down to complete the pattern.Wave c can be smaa because wave b has risen way ahead of wave a.Hope this clarifies.
i expect the nifty to correct very sharply and touch 7400 by nov 21. i may go wrong also,since future is not in my hand.
How do you reason that out Ambisiva?.For a drop of nearly 10% market internals should change drastically no?
http://niftyastrotechnicals.blogspot.in/2014/10/nifty-neo-wave-update-october-21-2014.html
Dear Pankaj, Please see this link also. It was a post of October 21, 2014.
Updated wave counts also have been posted..
thanks a lot! what a run......8300 also crossed....now expect some cooling off.....
Yes.An incredible effort. Cooling off will be an opportunity to buy more, because, all time frames have closed powerfully positively, monthly, weekly, daily and hourly.
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