Nifty 50 - 26th January 2024 | @ 78 Days | + 0.48%
Last trade: + 0.48% | 'B' class signal detected in India's Nifty 50. Running at an average wavelength of 78 days over 15 iterations since December 2020. Currently troughing
ΣL Cycle Summary
As was the case in major US stock markets, the up leg of this wave was very bullish indeed, preceding as it should a right translated peak and subsequent mild retrace during January. Relatively late to trough, the Nifty 50 is due to make a low of this component imminently, according to the current wavelengths and phasing. The next peak is anticipated in early March. The rise to that peak is likely to be weaker than the spectacular move up observed in November 2023.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Sell - Nifty 50 15th December 2023
Entry: 15th December 2023 @ 21456.65
Exit: 25th January 2024 @ 21352.60
Gain: 0.48%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 77.76 Days
Completed Iterations: 15
Component Yield Over Sample: 70.52% - learn more