Nifty declined 407 points in the week from high to low. Range was 11,942 ~ 11,535. Price was fairly sideways for the first 3 days before breaking lower on Thursday and Friday.
Below we provide some excerpts from our posts of the week gone by. (Full posts accessible to subscribers only).
On Monday morning, 26 Oct, Nifty PSU Bank Index post excerpt “In the near term, a decline is preferred …”
On Monday morning, 26 Oct, Bitcoin post excerpt “Momentum is with the bulls as evidenced..until that happens, there lurks a real danger…”
On Monday morning, 26 Oct, US Dollar Index post excerpt “Price appears to be in a triangle that is completing … Preference is for price to commence a choppy… relatively soon…”
On Monday afternoon, our Bank Nifty post excerpt “We are looking for a …. 24,821…. our bullish stance on Bank Nifty may change”
On Tuesday morning, 27 Oct, Dow Jones excerpt “We got the decline that was called for when price fell to below 27,600..”
On Tuesday morning, 27 Oct, Nifty excerpt “If one correlates Nifty with Dow Jones and Bank Nifty, price could see a *** of roughly 7 % from current levels”
On Tuesday, 27 Oct, BSE Power excerpt “In our post of 20 Oct, we said “Short term, a rally is expected. Price needs to break above the green trendline with a daily close above 1650 as confirmation…The top 3 companies in the BSE Power Index have rallied between 3%~6% in the last 3-4 sessions.”
(The top company rallied 18% by 30th Oct).
On Wednesday 28 Oct, Gold USD excerpt “ This chart shows price in the early stages of a minute degree wave v of a minor degree wave 3 (light blue)…”
On Thursday morning 29 Oct, USD / INR excerpt “an ending diagonal could be playing out …”
On Thursday morning 29 Oct, Nifty I.T. excerpt “further evidence is needed to confirm. If this count is correct, wave C would ** in choppy manner to ***.
On Friday morning, 30 Oct, Nifty 50 excerpt “From post of 21 Oct, “Investors may be better off with a more cautious stance. Downside risks have increased.”
On Friday morning, 30 Oct, Bank Nifty excerpt “Bank Nifty could be providing us a clue as to where Nifty is heading short term…”
On Saturday morning, 31 Oct “After several months of clarity, price has not played ball with the forecast..”