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NIFTY: CORRECTION AHEAD

Short
Nifty 50 Index (NSE:NIFTY)  
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NSE:NIFTY   Nifty 50 Index
Trend Analysis Chart Patterns Elliott Wave NIFTY nifty50 shortnifty stockmarketanalysis stocktrading stockstowatch elliottwaveprojection elliottwaveforecasts niftyprediction
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trendanalysis chartpattern elliottwaves nifty nifty50 shortnifty stockmarketanalysis stocktrading stockstowatch elliottwaveprojection elliottwaveforecasts niftyprediction
After a five wave impulse down nifty is rising in a corrective structure on the upside. The corrective nature of the price action suggests that near term trend for the nifty50 is down and prices are likely to fall towards 17000 in the coming weeks. On the upside the key resistance zone is 18350 while on the downside key supports levels are 17650/17350/17000
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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