NIFTY declines in five waves

The decline in NIFTY since Oct 19 peak has been five waves. This is ominous, because a five wave decline is never a complete set of correction but only the first leg of a three leg A-B-C correction. In other words, the first leg of correction that just completed represents Wave A of a three leg correction. Wave B bounce-back or retracement will be followed by another Wave C five correction.

So, watch out. Many pundits will mislead investors to buy at lows but the markets are not done yet...!!