You must
read previous articles and watch above chart carefully to understand this
article completely.
I have
already stated the fall may begin from yesterday’s second half. Most important
is that we remain away from 5040 resistance levels. I have stated this few days
back too that recovery from 4789 should come above 5000 but fail near 5040.
It exactly
moved in that manner.
We need
to note few important point of this recovery.
- Why have I said that 5040 may
not cross? This I am saying from the day we recovered from 4789.
Reason
– Make a count of 50% of down wave from 5279 to 4789. It ended @ 5034. (I do
not want to force you to believe me. Believe the study).
You
can note that I put the 5 wave count beginning from 5279 only and end up the 5th
wave at 4789. (All levels were successfully predicted before they hit).
Now
we were in a-b-c corrective up wave.
I am not
expecting any big dip right now. It will depend on the magnitude of fall today.
Look at time cycle. We had 13 days of fall and then 8 days of rise. (13 and 8
are Fibonacci numbers). Up coming down cycle may have a life of 1, 2, 3 or maximum
5 days. I will update more about the same in my intraday analysis or tomorrow.
You can
take few important resistances for today.
Starting with
4998 < 5021 < 5034 < 5040
Important
supports will be as following –
Starting with
4956 < mild @ 4928 < 4889 (May not break)
SGX NIFTY
is indicating a gap down opening with 25- 30 points. Suppose if we break 4956
on NIFTY spot then fall may continue.
Depending
on market condition we will release intraday updates too. Till that time, you
can post your views also so that I can present better result for you. Intraday
posts are available on www.viecapital.com
only.
Read
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Thanks
& Regards,
Praveen
Kumar
Mail id –
Praveen@viecapital.com
Mobile
number – 09893369889
