NIFTY View: WEEKLY Basis: After 3 Week "-VE" Closing, Manage to Close "+VE" & AboveGANN Arch "4 X 0" Can Say Consolidation. If consider "AB" = Wave - 1, "BC" = Wave - 2, Then to fulfill criteria of Wave Principle length of "CD" ( as Wave - 3) must not LESS than "AB".
As of NOW CLOSE 9665.8, Above Crucial Level 9633 Why 9633 Crucial ? As because FIB R 1.618 of BC. (1.618 known as "GOLDEN Ratio")
SCENARIO for BULL Control: SCENARIO #1: TGT: 9792 Correction Starts from 9792 level, As because 9792 level is FIB Ext. 0.886 of ABC & GANN Arch 4 X 1 (Violet Color)
SCENARIO #2: TGT 10036.70 IF Closed above 979 & Assuming Pattern ABCD Complete. Then Point "D" = 10036.70, 100 % FIB Ext. of ABC & FIB R 2.0 of BC.
SCENARIO #3: TGT 10372 IF Close above 10036. Point "B" = 31.39 % of Point Value of "A" If same Growth i.e. 31.39 % maintaind Then New High will be at 10372. Probable Range: 10293 (FIB R 1.618 ob AB) to 100315 1st Ext. ABCD Lvl (FIB 1.13 of CD)
Scenario for BEAR Control: SCENARIO #4: Market Won't made NEW HIGH ('H") 1st Correction Level: 9281 (FIB R 0.236 of CH) 2nd Correction Level: 9026 (FIB R 0.382 of CH) 3rd STRONG Correction Level: 8587 (FIB R 0.618)
SCENARIO #5: Made NEW HIGH ('K") at 9792 1st Correction Level: 9067(FIB R 0.382 of CK) 2nd Correction Level: 8619 ((FIB R 0.618 of CK) (can Treat as Extreme Level) For Daily Levels:
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As of NOW (at 2.39 pm of 10th JULY 2017) at 9778.65 made NEW HIGH at 9782.10 9.90 point behind Mentioned "9792". When many of analyst Shouting in favour of "BEARS" I Have mentioned "LONG". Thanks to Viewers who "Agreed" with my IDEA & Motivate me.
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SCENARIO #1: TGT: 9792 COMPLETED. Market Test this LEVEL STRONGLY.
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Made a HIGH 9913.30 Nearing "SCENARIO #2". Though Loosing pace i.e not much STEAM Left. FnO trader do Cautious Approach.
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All mentioned in Chart as Call out
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SCENARIO #2: TGT 10036.70 Completed. What NEXT ??? SCENARIO #3: Projected TGT 10372 Or Below new Post.
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