Further to my blog :
http://lalitlk-lalit-lk.blogspot.in/2016/05/nifty-bi-monthly-chart-its-fractal-8.html
I shall like to share some observations :
Macd-wise both Bi-Monthly & 8 Days Cycle Charts showed that Nifty may have topped out at 9119. Usual high in Macd was duly followed by cross down of the ZL, subsequent rise was with lower Macd characteristic of the 5th wave. In the Chart above tried to present views from different time frames.
Above chart, with full range of Data available & suitably re-cast, Next are zoomed views of Nifty TF 8 Days Cycle with proper Macd in four split charts with 188 candles (1st) & rest 3 with 150 candles for proper analysis.
Zoomed Views (188 Candles)
Zoomed view (2nd Part)
Zoomed view (3rd Part)
Zoomed view (Final Part)
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