Time Cycles, Gann suggest – Peak is here

The recent fall in Sensex carry some very important messages. A very important Gann angle – 45 degrees is decisively broken. As per Gann a break in this angle can result in some serious correction ahead! Trend line from March lows connecting December low broken. RSI moved below 50 levels. Time cycles suggest an ideal time for a peak to occur. Prices will no longer be right translated and is subtly shifting to left translation indicating some serious fall very soon. We mentioned in our previous blog that a move up cannot be ruled out but it was with extreme caution as multiple wave counts of ending diagonal were possible, but it did indicate we were in final of the final waves with a top very soon. Ending diagonal is probably complete. Next 2 days are key to confirm intermediate negativity.
Ashish Kyal
Contributing Member
elliottwaveindia