There has been a consistent negative diversion in different time frames since the high of 5965 was made in December 2012 but till now it has not been confirmed with significant price correction instead Price have been making higher highs . Lets see what probabilities lie ahead in the following charts and observations -
Please check the trading insight provided at the end of the last post- CLICK HERE , we now move forward with it in the charts and observations given below-
The rally is now showing some signs of exhaustion in short term . Indicator diversions , candlestick formations , Pattern , Trendlines and Options data along with EW count probability are suggesting that a correction may set in.
Last week's update showed negative divergences in various time frames and Market respected them to move down the whole week . Now this leg of downmove may be nearing an end in the short term . We looks at the probability now -
Nifty is slowly grinding up on weekly basis with no correction of consequence . The indicators in different time frames are showing negative diversions wrt the price movement along with a completion of a wave count . What to expect next -
