Where do we stand?
Target for C(minimum)=5817 but what would be its form?
Either a 5 wave Impulse or a Diagonal.
And as A was such a clean,fast & furious Impulse that I feel, led by Guideline of Alternation, that the chances of C not being a clean 5 wave Impulse are very high.
And that is the reason that despite having a high target for C,I keep on advising that donot go for Out of Money options.
In fact, I would prefer labeling this C's upmove as sw1,sw2,sw3 etc so as not to create a confusion regarding its form( which has yet to come out).
So far this C has played out:
sw1=5136-5378=242
sw2=5378-5184(ending at 5190)
sw3=5190-5342*
This sw3 is going to define the form of C to great extent.
So lets see how it has progressed so far:
(i)=5190-5342=152(Diagonal)
(ii)=5342-5291 in play and till Nifty goes above 5361 it should be seen as in play.( please delve into the Chart above to understand this Probability)
If Nifty goes above 5261 then (ii) can be said to be over at 5291 and
(iii) would be taken to have started from 5291
As wave (ii) normally does not play out as a Flat, I would give more Probability to (iii) having started at 5291 and is likely to play out in following manner:
5291-5338=47(already done)
5338-5311=27(already done)
5311-5388=77(162% of 47)
Thus my first target for tomorrow is 5388
Target for C(minimum)=5817 but what would be its form?
Either a 5 wave Impulse or a Diagonal.
And as A was such a clean,fast & furious Impulse that I feel, led by Guideline of Alternation, that the chances of C not being a clean 5 wave Impulse are very high.
And that is the reason that despite having a high target for C,I keep on advising that donot go for Out of Money options.
In fact, I would prefer labeling this C's upmove as sw1,sw2,sw3 etc so as not to create a confusion regarding its form( which has yet to come out).
So far this C has played out:
sw1=5136-5378=242
sw2=5378-5184(ending at 5190)
sw3=5190-5342*
This sw3 is going to define the form of C to great extent.
So lets see how it has progressed so far:
(ii)=5342-5291 in play and till Nifty goes above 5361 it should be seen as in play.( please delve into the Chart above to understand this Probability)
If Nifty goes above 5261 then (ii) can be said to be over at 5291 and
(iii) would be taken to have started from 5291
As wave (ii) normally does not play out as a Flat, I would give more Probability to (iii) having started at 5291 and is likely to play out in following manner:
5291-5338=47(already done)
5338-5311=27(already done)
5311-5388=77(162% of 47)
Thus my first target for tomorrow is 5388
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