Nifty moved sharply lower over past few days. We can clearly see money is flowing out of India and into China & HongKong.
Below chart shows Nifty compared to Hong Kong index – Hang Seng
Nifty 15 minutes chart – Anticipated on 4th October 2024
Happened as on 7th October 2024:
Nifty & Hang Seng index are showing inverse relationship that indicates that money is flowing out of Indian equity markets into undervalued China and HongKong stocks.
In order to understand the overall movement of Nifty with respect to short term Neo wave pattern let us look at 15 minutes chart.
Anticipated - We can see the first chart that showed fall in form of 7 legs Diametric pattern and prices to fall in form of wave e. This was anticipated on 4th October live webinar where the path was discussed for a move to 24700 levels.
Happened: Nifty moved precisely as expected & touched the intraday target of 24700 in form of wave e. Prices are now showing short term consolidation in form of wave f. Post this completion wave g on downside will resume that can take prices to 24600 levels. On upside 25140 continue to act as important hurdle.
Following was tweeted on basis of above in morning on 7th October 2024 –
Above clearly shows that it is possible to translate understanding of Neo wave into trading opportunity and the levels work precisely.
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