Nifty Chart
study the full story of cash nifty moved from 9119-6869 - Revealed once again for TA leaner, Just check from high first bounce back after the fall from 9119 at 8296. So just draw the Fibonacci with high 9119-8296.
Always i explained many times once swing hold 138.2% then it will bounce back to minimum 38.2%
Check the above chart exactly reversed from 138.2%(7944) to 8593(38.2%)
From there 8593 see direct target below 138.2%, that means minimum 161.8% (7743), made a low 7545
Close above 161.8% will bounce back upto minimum 0% for further downside check the above chart from 7743 to 8269
then it will go to swing completed target of 261.8%(6893) completed
One more method to inter-fear this at the time of getting 161.8% - choose breach candle and close below 161.8%(7743) on 2nd-sep-15, low at 7699
see the low 6821 , actual low 6869 [with bull gap of 48 points], the above analysis is for the big down move from 9119
Check the same things with final leg lower tops 8654 61.8% of the swing 9119-7940. Took that is the 100% with first bounce back 7539 as low draw the Fibonacci, check the following chart
See that lower tops also reversed exactly from 61.8%[8228], so minimum target 138.2%[7113] or max 161.8%[6850] actual low 6869
Don't get emotional/funk for target released by blue/red channel guys like 5000-4500. check the following chart, many of them knows the worst scenario of 2008. 2252, so minimum we will take 2252 as 0% and 9119 as 100%.
The above chart is for monthly so dont expect sudden target on both side , this will be the view for targets study Fibonacci time zone as like Fibonacci extension then u will get the exact time zone also 6495is at 38.2% [always 4th leg completion at 38.2% of 3rd]
First come to multi cycle from 279. Why 2008 Crash didnot come come to blue/red channel guys TARGET of 900. Because frist leg of up from 279 comes to 1818, third leg at 6357,so as per EW it should not break 1818 , hold at 2252 made new high 9119, so fourth leg will not break 6357 on closing basis
Check the following chart took 0% as 2252 and 100% as 6357, see the reversal exactly from 161.8%. as per previous posts once reversed from 161.8% max it will touch 0%[6357 this is the worse scenario] so previous chart will be max levels for down side, wait and watch.. (Monthly chart targets always on closing basis)
The above charts and study on the basis of my own study, check for the entry yourself
Final fall from 7600 upto 7350 bounce back uptoexactly 78.6% 7504 [actual high 7512] and finished its swing tgt 261.8%, that is why holding 6945
