Nifty Analysis: Potential Final Low and Key Reversal ZonesNifty Analysis: Potential Final Low and Key Reversal Zones
Pattern & Wave Structure
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1. The market appears to be in the late stages of a higher-degree Wave (4) correction in a classical A‑B‑C formation.
2. Based on current wave counts, the 17th February low could mark the completion of Wave C (and thus Wave (4)).
3. If the price undercuts that low again, the 25th Feb–6th March window stands out as another high‑probability reversal zone.
Price & Time Analysis
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1. Fibonacci Retracements near the 23,400–22,550 region align with typical corrective targets (0.382 and 0.5 retracements).
2. Several cycle durations (High‑High, Low‑Low, etc.) also converge in the late Feb to early March window, suggesting that if the 17th Feb low fails, price is likely to pivot within this narrow time band.
Momentum Across Multiple Time Frames
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1. Daily (8‑ & 13‑period Stoch RSI): Just triggered a bullish reversal signal, indicating a near‑term upside bias.
2. Weekly Stoch RSI: Currently in a bearish phase but could shift higher if price stabilizes or rallies from current levels.
3. Monthly Momentum: Deep in oversold territory, suggesting the market is nearing a major inflection point (downside risk appears more limited).
Overall Outlook
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With three time frames hinting that bearish momentum is losing steam—and a clear confluence of Fibonacci targets and time cycles—downside appears limited if not already exhausted.
A decisive push above recent swing highs would strengthen the case that the 17th Feb low was a significant bottom.
Conversely, a brief extension lower into late Feb–early March could still offer a strong rebound if support is confirmed in that zone.
Conclusion
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The interplay of price levels, time cycles, and momentum indicators points to a potential final leg of the correction nearing completion. If 17th Feb was not the turning point, then the upcoming 25th Feb–6th March window may serve as an important inflection date for Nifty. Keep an eye on key Fibonacci support zones and the evolving Stoch RSI signals for confirmation of a sustained upside move.
