Dear All,
> NIFTY Daily Chart <
As usual its a Volatile Session, more yet to come. Because most waves are irregular or abnormal pattern, makes more difficult, hence more caution needed to trade.
Big Social media debate going in favor of Bull Vs Bear. Global Indices are Red and Our Indices yet to respond to bear. When FED Raises rate to Strengthen their Dollar Dominance, Others are forced to raise the rate or to Sell their Forex Reserve or to sell their Dollar Reserves to stabilize their Currency.
My Personnel View is US Govt., is Purposefully waging a Economic War against all countries to emerge themselves are global leader. If So they will continue to hike rate till their goal is achieved.
Finally a Strong one will survive in this Dollar Game. I hope India will, as our Economic data are strong enough with rich dollar kittle. So no fear of Deep Correction or any Black Swan Event to happen to us. .
> NIFTY Hourly Chart <
its an Alternative count, though bullish. As mentioned - the entire move is a 3-3-3-3-3 Pattern. If so, Current Wave may be a 3 Wave Upmove. 17090 may take Support for a bounce back
> NIFTY 15 min Chart <
Last Week bounce was an irregular pattern, Immediate support @ 17210 & 17140 must give support. But so far SGX Nifty made a low of 17070. So fingers Crossed.
> Bank Nifty Daily Chart <
As like NIFTY - 4th wave is done and 100 DMA supported.
> BANK NIFTY Hourly <
Possibilities, if support held may rally again on Monday
