In longer TF it forms the rising channel, Now it touches the upper side of channel and now its in correction stage and To Additional to this it respect the Elliot wave, in this also it finishes their uprun and starts its correction phase. This correction phase consists of three waves. We may anticipate nifty to get reverse at 13200 - 13150 (approx.). lets see what will happen in upcoming days. so plan your positions according to this.
NIFTY
NIFTY
Trade active:
Nifty broke the major support 13780. Now there is higher probability to reach our support level 13200. This is all based on technical analysis. But we wont predict the market behavior during the big events like upcoming budget. so stay cautious
Trade closed manually:
Budget Reverse the market.But don't forgot to note this pattern.Thank you