August 7, 2017

Neowave analysis of market

The question for the fresh week is also whether “d” has ended last Friday to open an upward “e” OR whether “d” leg would subdivide.

For suggesting that upward “e” has opened, Index should not only strengthen/close above Friday’s high, but also move to a new high soon enough.

Failure to sustain above Friday’s high could mean “d” is forming as a sub-divided leg, turn tricky in such a case. If it starts trading below 32105 (Nifty 9944) it could open downsides testing lower end of the “b” leg. Watch decisive move beyond Friday’s high-low to begin with.

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