Nifty Sharp Fall – Infosys Results or Neo Wave?Apr 17, 2023
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Nifty declined sharply with Infosys shares down by more than 10% post quarterly results and future guidance.
Many have been attributing fall in index on back of the event or results but below is the chart shown on 13th April 2023 Live webinar with 1000s of participants on basis of Neo wave pattern completion.
Nifty 15 minutes chart (Anticipated on 13th April 2023)
Nifty moved precisely as expected and as suggested by GPS (Elliott wave) of the market. Prices showed sharp decline on downside directly with Gap below the low of wave f near 17729.
Many would attribute this to the fall in Infosys on back of results but for us the pattern was near completion and we were able to catch a top again this time. We turned super bullish when prices broke above 17060 levels amidst major pessimism and now short term top looks to have formed near 17850.
Along with this Time cycle is due on 19th April 2023 and so we can expect 3 days of correction. This information is very important for Option Traders and accuracy with forecasting tools like Neo wave can simply be amazing.
In a nutshell, Nifty can consolidate or correct from here and it is time for options traders to sell calls or buy puts on pullback to ride the reversal for few days.
Difference between Elliott wave and Neo wave is that, Elliott wave has only 3 rules to define impulse pattern whereas to make it more objective Neo wave has more rules and pattern. Trading with an Edge of time and wave theory makes a real difference which we have been showcasing from time and again!
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