NEPSE SHORT TERM TREND
Multiple Fibonacci Clusters providing support for Wave 2;
Wave (v) of Wave (c) =Wave (i) of Wave (C)= 2648
Wave (C)= 1.382 of Wave (A)= 2620
Wave 2 Retracement= 50% of Wave Wave 1= 2620.
Thus, we may look for wave 2 support between the area of 2650-2620.
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Today NEPSE made an indecision candle stick pattern . So there is no confirmation yet to conclude that bottom has been stuck.
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Today NEPSE made an indecision candle stick pattern . So there is no confirmation yet to conclude that bottom has been stuck. Still wait for confirmation
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27-2-2022
Wave 5 of C running and possibly forming an ending diagonal by forming 3,3,3,3,3 structure.
3rd of diagonal has completed and is forming the 4th.
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Good observation .
Preference count is still valid if NEPSE bounces from the area of 2585-2570 area and moves upward impulsively.
However, corrective rise from these area may lead to another motive wave down towards 2400 as shown in the alternative count
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ENLONGATED WAVE (c)=2.236 Of Wave (a)=Wave v of Wave (c) extension (1.382 extension of Wave i through Wave iii=2462
Fifth Extension= Wave 3 of v may come down towards 1.618 of wave 1 i.e. 2514
0.382 retracement of wave 3 may push towards 2580 and final final 5th of v may conclude near the area of 2480-2460
