A Deep Cut
Last Week I had mentioned the following occurrences and forecasted a deep fall.
1. NIFTY Weekly. A Gravestone Doji (GD): As you can see, it got confirmed be a close below the lowest low of the prior week. However the intensity of the fall was not as high as expected. Since The GD got perfectly confirmed, I expect a Deep Cut from next week.
2. DOW: A key Reversal (KR): Here a fall of high intensity followed perfectly as forecasted (See chart). Falls of much higher intensity is expected this week too.
If NIFTY convincingly breaks 4900, then we might see an avalanche. That would then be considered as the long term trend broken.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
