Refer to the article "Uncoding the complex wave......", I had written
Quote
"Though this can be broken on intraday basis causing temporary panic and unwinding of any longs, yet an immediate bounce till 4450-4500 is very much possible with an June expiry around 4350 levels.....If this happens, then we will again fall from around 4500 to 3950-4000 before budget in all probability, thus completing the full wave cycle and commence on the upward journey thereon....."
Unquote
Till now my levels are holding correct. Even today it reversed from 4447 in the 1st month futures. I strongly believe that we will fall from hereon till 3950-4000 by 6th July, thus completing the 5th wave. Lets see if that happens. I will refine the levels as and when required. If it doesnot happen that way (which I dont think), I will take a fresh call tomorrow......
Till then be cautious on any long positions......
Quote
"Though this can be broken on intraday basis causing temporary panic and unwinding of any longs, yet an immediate bounce till 4450-4500 is very much possible with an June expiry around 4350 levels.....If this happens, then we will again fall from around 4500 to 3950-4000 before budget in all probability, thus completing the full wave cycle and commence on the upward journey thereon....."
Unquote
Till now my levels are holding correct. Even today it reversed from 4447 in the 1st month futures. I strongly believe that we will fall from hereon till 3950-4000 by 6th July, thus completing the 5th wave. Lets see if that happens. I will refine the levels as and when required. If it doesnot happen that way (which I dont think), I will take a fresh call tomorrow......
Till then be cautious on any long positions......
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