Today being the 10th day of the rise after Nifty hit 4538,Nifty has not taken out the highs of 5181 of Oct21.This implies, it is likely to be a corrective bounce from 4538(the fall from 5181-4538 also took 10days)since any bounce from the lows usually has fast momentum to take out the highs earlier than the fall.Likely scenario for the coming C-wave
1.Friday Nov20- Nifty should end ~4900-5000 if the global cues remain buoyant.
2.Nov23-Nov27- Nifty should get a cut from 5-10%
3.Nov30-Dec4- If Nifty does not fall below or around 4500 previous week, it should fall this week.
4.4400-4500 should likely be the low for this fall.
5.Dec7 Onwards- Nifty should rise steeply towards 5500(+- 200) by December End.
Kaps
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