NIFTY WOLFE WAVE PATTERN

CHART1

CHART 1 SHOWS A PERFECT COPY BOOK WOLFE WAVE PATTERN IN WHICH NIFTY MADE ITS LOW AT TIME OF INTERSECTION OF TWO TREND LINES AND AT POINT ON LINE JOINING 1AND4


CHART 2
CHART 2 SHOWS A WOLVE WAVE PATTERN EMERGING IN NIFTY DAILY CHARTS IN VERY SHORT TERM WITH TARGETS NEAR 5400 RANGE (DARK PURPLE LINE) AND MAY TOP OUT IN NEXT 6-7 TRADING SESSIONS


CHART3

CHART3 SHOWS A PROBABLE WOLVE WAVE PATTERN EMERGING FOR MEDIUM TERM AND HAS AVERY BEARISH OUTLOOK.POINT6(TRGT) OF CHART 2 CAN BE POINT 5 IN CHART 3(NEAR 5400) AND FROM THERE NIFTY MAY FALL FREELY FOR TRGTS TO BE MET ON BLUE LINE JOINING PTS 1 AND 4 IN CHART2...
MAY TAKE SOME CONSIDERABLE TIME TO ACHIEVE LOWER TARGETS(BOTTOMING OUT PROCESS) AS TREND LINES HAVE VERY LOW INCLINATION AND MAY TAKE CONSIDERABLE TIME FOR INTERSECTION