padiyara

Nifty is in wave 4 correction support 9920

Short
NSE:NIFTY   Nifty 50 Index
Wave 3 normally make a small correction, a 38.2% correction towards 9952 seems to be an appropriate level for wave 4, Now we want to see that what form it take place weather a flat or triangle, for the reason wave4 rarely forms a zigzag, consider all this characteristics 9920 will be a strong support, before it make a target towards 13000 for wave 5. there are many internal waves with in wave 3, hence few extended wave can form on top waves before wave III' termination.12950 is exactly 2.618% of wave II is marked in monthly chart.
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