NIFTY - Do you see the pattern leading to 9520 by Friday?
This post is just mostly observation and poor man's attempt to see the obvious pattern to many observers. For many hours, we have been consolidating in the upward trending channels.
1) All three down swings are 4.71% , 4.72% and 5.06%. They are taking longer and longer time.
2) The two up swings so far 6.44% and 6.37% . And the later one has taken shorter time than the first one.
If we believe the today move is the start of fresh upswing, and it will follow the similar pattern of downswings then we are looking at the target around 9520 till Friday :)
I am not Elliot wave technician, so I do not have any tools with me which can predict the market, but still I can observe :)
1) All three down swings are 4.71% , 4.72% and 5.06%. They are taking longer and longer time.
2) The two up swings so far 6.44% and 6.37% . And the later one has taken shorter time than the first one.
If we believe the today move is the start of fresh upswing, and it will follow the similar pattern of downswings then we are looking at the target around 9520 till Friday :)
I am not Elliot wave technician, so I do not have any tools with me which can predict the market, but still I can observe :)
Trade closed manually:
NIFTY did not reach the target