Sunday, December 18, 2016

Eventually lower level await the Markets

December is turning out to be a listless period for the markets. We are stuck in a trading zone which seems to be getting narrower by the day.

1. 7500-7700 levels seem to be a matter of time. 1 probable wave count is

A 7916-8251
B 8251-8056
C 8056 - 8274

Now the fall from 8274 is very slow, so it could be

A 7916-8251
B a 8251-8056
B b 8056-8074
B c 8274 should end above 8043

This is said to be irregular correction.

C wave can go up till 8337- 8400 and then a final down move of 7500-7700.

Or we can go straight from here to 7500 7700. Either ways we seem to be headed down now or in the New Year.

The strategy remains the same accumulate on declines. The Bollinger Bands are narrowing with range between 8269 and 8069
There are no more triggers left for the markets for this year.

No comments:

Post a Comment