Since the past few sessions NIfty has not given any clear sign of the market direction.
My bias is that it should give a good correction before giving the next leg up and hence in the above count I have taken the movement from 9215 as an Expanded Flat correction.
The other probability is that the Wave B is still not complete and is progressing as some kind of complex formation, which still remains to be seen, however even in that case a correction will be due.
The most probable downside targets are :
T1 : 9075
T2 : 8955
The invalidation point will be above the last peak.
I will update as the market progresses.
My bias is that it should give a good correction before giving the next leg up and hence in the above count I have taken the movement from 9215 as an Expanded Flat correction.
The other probability is that the Wave B is still not complete and is progressing as some kind of complex formation, which still remains to be seen, however even in that case a correction will be due.
The most probable downside targets are :
T1 : 9075
T2 : 8955
The invalidation point will be above the last peak.
I will update as the market progresses.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.