Nifty to start correcting for atleast 30%
I am posting a review after a while.
I was looking into various books to see what pattern Nifty is making.
THe Closest I got was to United Technology Price chart of 1992. The book is encyclopedia of charts and patterns. The CO. got merged and I could not find more details on its chart, but one picture in the book.
But, after analyzing our own Nifty, I could see a stark similar pattern.
So what you see here is where Nifty instead of touching the lower level, from the mid it took support and bounced to make HH.
In coming month, we can see a 30% ish collertion which can sustain for a year atleast.
For bottom fishers, I am guessing October 23 will be a great opportunity.
PS : this is random chart pattern talk. Not a financial advise. I have no whatsoever degree to advise financial investment. Please consult your registered financial advisor before making any investment. This is mostly guess work :)
I was looking into various books to see what pattern Nifty is making.
THe Closest I got was to United Technology Price chart of 1992. The book is encyclopedia of charts and patterns. The CO. got merged and I could not find more details on its chart, but one picture in the book.
But, after analyzing our own Nifty, I could see a stark similar pattern.
So what you see here is where Nifty instead of touching the lower level, from the mid it took support and bounced to make HH.
In coming month, we can see a 30% ish collertion which can sustain for a year atleast.
For bottom fishers, I am guessing October 23 will be a great opportunity.
PS : this is random chart pattern talk. Not a financial advise. I have no whatsoever degree to advise financial investment. Please consult your registered financial advisor before making any investment. This is mostly guess work :)
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