Nifty as of 23rd Aug 2019

Bigger wave count - 


1.  12103-11625=478
2.  11625-11982=375
3.  11982-10731(261.8%)/10650(278.6% done @10637 ???)/10548(300%) = 1345
4.  10637->>10833(14.6%)/10954(23.6%)/11151(38.2%)


If 3rd is still in progress then- 

3.1 11982-11461=521
3.2 11461-11707=246
3.3 11707-10783
3.4 10783-11147
3.5 11147->10689(38.2% done at 10637???)/10547(50%)


Or if 3.5 still in progress-

3.5.1  11147-10986=161
3.5.2  10986-11059=73
3.5.3  11059-10638=421 
3.5.4  10638->10849(50%  done @10862 ???)/10898(61.8%)/10936(70.7%)/10969(78.6%)

If NS opens and trade below 10862 for rest of the day then 3.5.4 might have finished and 3.5.5 will start for 10650-10550 level. But if NS opens below 10862 (or above ) and move above it,3.5.4.c might start 10900-10950.

If NS trade above 10985, it will confirm that bigger 3rd wave is finishes and 4th wave is in progress.

Short below 10820, confirmations below 10805; long above 10870.

If NS opens gap up and not strong enough to trade/sustain above 10920, short can be initiated with strict stop loss.

Monthly close below 10750 will be highly bearish.


BNS long above 27050, short below 26860.