Dow Theory on Nifty50 chart
DOW THEORY UPDATE-
After New Dow Bottom "X", now we have made new Dow Top "Y" as well. By seeing market condition, I feel X can be broken soon but if we cross the Dow top "Y" first then that will ends the downside officially.
* W is the previous significant swing high here.
* X is the current significant swing low here.
* Y is the current significant swing high here.
After New Dow Bottom "X", now we have made new Dow Top "Y" as well. By seeing market condition, I feel X can be broken soon but if we cross the Dow top "Y" first then that will ends the downside officially.
* W is the previous significant swing high here.
* X is the current significant swing low here.
* Y is the current significant swing high here.
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