If bulls break the control line, we can expect the following target 17356-17472-17521. But The rejection from the control line will drive the price to 17150 - 17012- 16900. Nifty has completed Impulsive wave C of wave(c) of wave ((Y)) and started marching upward. In this initiative, we can see a sharp move with three gaps. A gap down on Monday indicates island reversal and selling pressure.
I have a question here. If Wave A started from 18600 then can Wave A be a complex correction ? I read only Wave 2, Wave4 and Wave B can have complex corrections
forextidings
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@AseemGhosh, I didn't get you. Can you please clear it?
AseemGhosh
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@forextidings, starting from 18600 what wave are we assuming on a larger degree?
As you have shown current wave as complex correction, then what wave is it on the wave degree one level above?