Greetings traders,
This being our first post in the Brains' Forum, We have to segment the analysis in four phases and phase 1 is explained in the forum.
Lets get rid of ambiguity in intial stages,
This is the long term scenario and mostly this is a case where the (4th) wave have been completed.
Can we say that for sure ?
Yes, based upon few supporting evidences, we can label it the one way, watch for the 50% R & trendline coincidence. They sum up.
What is NIFTY's Next Big Move ?
In this scenario, where the 4th wave is complete and the (5th) wave in the super cycle degree progresses as an Ending Diagonal triangle (E.D.T). This labeling is also supported by the corrective nature of the labelled wave 1 (in yellow color). We have been FIRM in our stand labeling that structure as corrective wave (from its initial development).
This concludes the phase 1 of analysis and we would like to call this as a Low Probable outcome in future.
There might be evidences to label it this way but based on that we can only say that this could be scenario but not so sure!, without comparing all other possibilities. Let's understand NIFTY from the diagonal perspective to know it even better.
Read our Blog Post,
Will NIFTY sustain 8000 Levels ?
Which will give enormous guidance through re-conciliation of all the facts scattered around the asset.
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