The Nifty is in wave 4 as shown in chart the current pattern is sort of running type of correction called double three same type of running flat correction was happened in wave 2 also as shown by green arrow in chart.The high probability target for Nifty upto Monday is 16585 level as shown in target.
As in Chart
#banknifty analysis for 10th May:- Decision Zone:- 32,925 - 33,030 Resistance Zone:- (33,259 - 33,362) / 33,545 / 33,728 / 33,955 / 34,216 Support Zone :- (32,667 - 32,771) / 32,484 / 32,301 / 32,075 SL for positional long 31,565 One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price....
NIFTY taking 50 MA support, will it break or will it go down..