#Nifty - 20 year old bull cycle ends, expect 50% drop

We are likely at the end of a 20 year-old bull cycle, Wave3 (green), what follows is a wave4 correction to 0.382 (4.5k) or 0.5 and in some cases 0.236 (6.5k).

Note that we can see 5 waves (blue) within the 3rd wave and 5th subwave (blue) here is extended and appears to be an ending diagonal, break below that was a clear indication of a correction. Also like that blue subwave4 got support from the channel drawn from start to wave1 & 2

Note how RSI kept below the red trend line and broke below 50

Possible targets are 6500 & 4500
Extended Target - 3000

Invalidation: If we break above 10,800, I will reconsider my bearish position

Note

25% drop since this chart was posted. RSI has never been this oversold in the last 30 years. I think we will see a relief bounce soon before continuation down

imkeshav

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imkeshav

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