September 18, 2017

Neowave outlook of market

...Accordingly, we had argued last week that the upward “g” leg can be anything, either “Normal” or “Failure”.

A Normal “g” leg would cross the top of “f” leg, i.e. Aug’17 high and hit a new high. It can even achieve a magnitude similar to the “a” leg, which can project an upside of about 35200 (Nifty 11000).

A Failure “g” leg, on the other hand, would not cross Aug’17 high. As of last week, Sensex/Nifty both could not cross the Aug’17 highs. Soon, it would be clear if “g” leg turns out to be Normal or Failure.
....

VP’s 2-year Cycle of Tops we showed since Aug’17, will still be operative, but only after upward “g”, or the last leg of the pattern, is finally over.

Read more at http://content.icicidirect.com/ULFiles/UploadFile_2017918103836.asp

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