Nifty is in the correction phase. All 5 waves are completed. Now started the wave A and most possibly end at 10850. Then wave B will start. Can take a long position at 10800 levels for the short term with the target of around 11300, then again big correction wave C will start.
I will update the Levels again.
Trade active
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Target Missed by 30 pts. As said, wave B started from 10885 level, can trade for long for short period.
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Nifty again tested the level of 10850. Go for Long and keep stop-loss as 10840, just a few points below the level.
Sir ,I am a beginner in Elliott wave theory------however I feel we are on wave 4 now----and likely to correct to 9500 to 9400------that is how I see it
LearnerSujitC
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@mariareenmathews, Wave theory is continuous counting process, as the time past we have to keep changing our thinking process of waves counting and time will decide whether our counting is right or not.
I don’t know where you learn and how you count the waves, so at this moment I can’t say that you are Right or Wrong.