September 4, 2017

Neowave outlook of market

...We may, accordingly, watch if e-leg matures within a day or two, and opens a downward f-leg of the Diametric. The f-leg should become “bigger” than e-leg to continue the “expansion” required in the second half of “Bow-Tie Diametric”.

This would also mean that if the recovery from late last week continues seek stronger upsides in the fresh week, then our current assumption as to Diametric in “b” leg would be threatened, and force us to look for alternatives.

Also, remember, we were looking for complete & faster retracement of the 3rd Corrective to confirm the -ve possibilities as per VP’s 2-year Cycle of Tops.

Such a confirmation required Index to break below the low of 30th Jun, i.e. starting point of the 3rd Corrective, at 30680 (Nifty 9448), in faster time. Since 3rd Corrective took 26 days, we were watching of Index breaks this low by 15th Sep’17.
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