This Weekly Update reveals the NIFTY‘s latest market structure and pattern development using hand-drawn monowave charts and orthodox Neowave logic so you can make informed decisions about market direction.
2.5 Yearly Chart
When Wave-(4) is finished Wave-(5) should commence with all degrees going to the upside and a very powerful bull market move will follow.
Major trend (purple)= UP
Minor trend (blue) = DOWN
6-Monthly Chart
Monthly Chart
I have pushed out the end of wave-(d) to where it is now marked. Confirmation is still forthcoming so I have place a (?) next to it. The Weekly Update will be tracking this. Short and sharp moves to the downside are expected although this is a running correction and the net result of wave-(e) could actually lift this market higher.
Weekly Chart
A closer look at the developing Wave-(e) of E:
The Weekly Chart matches the Monthly. Will be tracking the expected move down for wave-(e).
Bottom Line
As currently labelled, NIFTY is in the process of completing a 26-year running bear market correction. We need to get through the end of Wave-(4) which is completing wave-E then the real bull market in India should begin. Be patient.
This content is provided for informational and educational purposes only and does not constitute trading, investment, or financial advice. PDP does not provide trade recommendations, entry or exit signals, or portfolio guidance.