Yesterday multiple probabilities resolved to one direction ie., iv wave up move which is likely before end of day tmrw...
Tomorrow morning session nifty likely to decline to 5711 but not below 5695... Then a sharp rise above 5754.6 likely which will complete the pattern.....
Break below 5695 will confirm larger degree Y.a.v downward wave in progress (160-280 pts decline)...
Negative divergence shown in red colour confirms upmove likely to end soon....
w/a: 5604.85 5720.95 116.10
x/b: 5720.95 5675.90 -45.05 -0.39*a
y/c: 5675.90 5754.00* 78.10* 0.67*a
c already done minimum requirement of a. But with persistence negative divergence it can run upto 5863 also...
It is difficult to say c.iii ended at 5854 it can subdivide too (for this also macd should post very high reading/ divergence need to be negated)... only break below 5695 will confirm this upmove ended...
I am more inclined to abc (though b=0.39*a) rather than wxy because during this upmove should have posted higher high on macd but didnot happened so far ...
If macd does, y will subdivide into abc i will go with labels wxy till then abc rules...
Tomorrow morning session nifty likely to decline to 5711 but not below 5695... Then a sharp rise above 5754.6 likely which will complete the pattern.....
Break below 5695 will confirm larger degree Y.a.v downward wave in progress (160-280 pts decline)...
Negative divergence shown in red colour confirms upmove likely to end soon....
w/a: 5604.85 5720.95 116.10
x/b: 5720.95 5675.90 -45.05 -0.39*a
y/c: 5675.90 5754.00* 78.10* 0.67*a
c already done minimum requirement of a. But with persistence negative divergence it can run upto 5863 also...
It is difficult to say c.iii ended at 5854 it can subdivide too (for this also macd should post very high reading/ divergence need to be negated)... only break below 5695 will confirm this upmove ended...
I am more inclined to abc (though b=0.39*a) rather than wxy because during this upmove should have posted higher high on macd but didnot happened so far ...
If macd does, y will subdivide into abc i will go with labels wxy till then abc rules...
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