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Nifty below upper channel can reach to the lower channel line

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SGX:IN1!   SGX NIFTY 50 INDEX FUTURES
Nifty may have completed its wave 5 structure and now its in wave c of corrective wave.

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Comments

hello!!!

i think correction target comes @14300-350 through 1:1 extention of wave A for wave C or @ 14144 with wave C extending to 123.6%, considering this as regular flat correction,which was seen in today's trading session.Although a regular flat has 3-3-5 sub division i think wave 5 will see truncation and today's low will not be breached as 5th wave retracement of 0.618 comes @ 14297 and 1:1 extension of wave A comes @ 14372.Although possibilies cant be ruled out of wave C extending till 123.6% @14144.

What do you think?????
+1 Reply
dhinesh_kumar UNDERDOG-29
@UNDERDOG-29, its not ABC (as Wave A itself is flat correction) . It is double-three correction (WXY) and Wave Y is completed at yesterday low as zigzag correction. Now either possible for wave Z or heading to ATH as impulse
+1 Reply
UNDERDOG-29 dhinesh_kumar
@dhinesh_kumar, yes agreed,it is wxy,i wrote ABC in reference to letters mentioned in the post.And yes possibilities of triple correction cant be ruled out.
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