Nov21-W1: Nifty to continue to swing wildly? (Nov1 to Nov3)
I am no expert at wave theory but if this is onset of downtrend, then one more wave of reds is yet to come. Before that happens, Nifty may inch up a bit. On the other hand, if this is A-B-C type of correction, then this is mostly over? Anyways, this is a very short week and I wonder what can happen in 3 days especially when we have 3 big fat red candles in the backdrop.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 18050 and 17400
Downtrend - If breach below 17400; to drop somewhere till 17100
Uptrend - If breach above 18050; to rise somewhere till 18600
Diwali muhurat trading has a history of taking the market up. Let’s see
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 18050 and 17400
Downtrend - If breach below 17400; to drop somewhere till 17100
Uptrend - If breach above 18050; to rise somewhere till 18600
Diwali muhurat trading has a history of taking the market up. Let’s see
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