EXPECTING A NEW LOW IN DECEMBER?
If Nifty Spot fails to move above 7983 in a day or two, then, we can expect a break of 7540 before December end. The above deduction is purely based on " Wolfe Wave Theory".
If the spot opens above 7802 levels, then, Nifty will try to touch 7836-7842 spot levels. We expect a heavy selling pressure and also expect a close below 7708-7702 spot on Monday. Hence if you witness a selling pressure at the above mentioned levels, then, SELL NIFTY and hold with a stop loss at 7983 spot levels.
If it opens below 7800 levels, then, Nifty will try to move up either from 7811 or from 7817 spot levels and reverse from these level towards 7702 spot
If opens flat, then, wait for 7736-27 spot levels to buy or wait for 7811-7817 spot levels to Sell.
My expectation: As per my wave counts , the, market may open higher and it will not sustain at higher levels and the market will face heavy sell-off either on Monday or on Wednesday.
Indicators are not giving any clue but moving average crossover pointing to a bearish outlook. Wave Theory also confirms this.
MY FINAL DESTINATION TARGET FOR THIS DOWN MOVE WILL BE UPDATED IN MY LATER POSTS.
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