morning thoughts...
The grand september and october series comes to an end today , as intimated on 16th and 17th september about the huge and sharp correction , nifty yielded 1800 points and bank nifty 4000 points
Along with that we have intimated that futures and stocks will witness 50-70% dips and most of them have corrected sharply
So is the corrections done or major era is still due
The mid point fulcrum and wave 5 saga will take its due course with sharp quick and unexpected moves in few days
The extended wave 5 moves for nifty is at 10900 level1 , l2 11600 , rl1 at 9244 , rl2 at 8770 , rl3 at 7879
Bank nifty level1 25600, l2 26200 , l3 27100 , rl1 24100 , rl2 23450 , rl3 21900 , rl4 18770
The midcap index during wave 5 will be l1 18900 and rl1 12000-10000 which is again 50-80% moves
PCR for options will be 0.30 to 2.10 which is highest probable swing for options in last 12 years
Now we move into f/o expiry day and without saying volatility and swing will be the order of the day
The last session witnessed a test of our fulcrum point for index mentioned in last post
We are ready and expecting the test of l1 and rl1 very soon as markets have confirmed the same by respecting the fulcrum point
Markets in the coming session will swing both ways with ample opportunities
Commodities markets look mixed with selected buying in bullions , base metals and energy
The grand september and october series comes to an end today , as intimated on 16th and 17th september about the huge and sharp correction , nifty yielded 1800 points and bank nifty 4000 points
Along with that we have intimated that futures and stocks will witness 50-70% dips and most of them have corrected sharply
So is the corrections done or major era is still due
The mid point fulcrum and wave 5 saga will take its due course with sharp quick and unexpected moves in few days
The extended wave 5 moves for nifty is at 10900 level1 , l2 11600 , rl1 at 9244 , rl2 at 8770 , rl3 at 7879
Bank nifty level1 25600, l2 26200 , l3 27100 , rl1 24100 , rl2 23450 , rl3 21900 , rl4 18770
The midcap index during wave 5 will be l1 18900 and rl1 12000-10000 which is again 50-80% moves
PCR for options will be 0.30 to 2.10 which is highest probable swing for options in last 12 years
Now we move into f/o expiry day and without saying volatility and swing will be the order of the day
The last session witnessed a test of our fulcrum point for index mentioned in last post
We are ready and expecting the test of l1 and rl1 very soon as markets have confirmed the same by respecting the fulcrum point
Markets in the coming session will swing both ways with ample opportunities
Commodities markets look mixed with selected buying in bullions , base metals and energy
