Nifty50 one dip pending as per Elliott wave analysis 30 mins TF#Nifty50 is very near to its bottom. As per my previous analysis, I was expecting the Nifty to come at least 15400, but the bottom will be confirmed when an impulse rally will be made with regards to Elliott wave.
The move after the low I mentioned is the (w)(x)(y) move as a whole. The c of Y is already made or it can go to a little high more, but the Nifty is all about to fall at least up to 15060.
After 15060, it will if go down, it won't go below 14600.
Well, at this moment if you want to short the Nifty, don't go with option buying as the move to the downside can be sharp or even choppy. If the down move will be choppy, you will trap in options. Go with shorting the future with a specified stop loss.
But let me say it again, Nifty is near its bottom. The good moves for buying Futures, Options and even cash are about to come.
I will confirm here when the Nifty will make an impulse, and the move towards the upside will be an All-time high.
The y without brackets is a count of my previous analysis. I have attached my previous analysis in attachment.
Thanks
Traders Mantra
