DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,793.65 -37.75 -0.35%
NIFTY VIEW FOR 14/02/2019 ONWARDS
NIFTY is moving sideways with downward bias.Today it retraced 61.8 % of circled wave i.So after wave (a) down is over wave (b) up will start and then (c) down as shown in the chart.I am not very confident on this pattern right now unless we start upmove at the earliest without going down further.Yesterday I had said that it is better to avoid trading any upward bounce i.e wave (b) for now.
I have shown tentative markings which can be taken into account after completion of wave (c) shown in red.After wave (c) down is complete circled wave iii up will start.
NIFTY HOURLY
devadasnayak 
Dear Sir,
is it possible that we are correcting in ABC as shown in attached chart and very close to end the C wave around 10760? A 11118 to 10858 B 10858 to 10920 C 10920 to 10773 so far …at 10760 it becomes 2.618 x B and 0.618 x of A , at 10660 A=C comes, trend line support around 10700
so, if we end ABC correction soon and start wave iii ?
just as an alternative count i tried. i am not wave expert , but tried with fibo ratios .
[image: image.png]
Pankaj Shah