UNDERDOG-29

WXY DOUBLE CORRECTION WAVE Y BEGINNING

Short
NSE:NIFTY   Nifty 50 Index
BOUNCE FROM 14350 TO 14878 IS FORMED IN 3 WAVES MEANING PRICE WENT UP IN CORRECTIVE PATTERN.aLSO IT STOPPED @50% RETRACEMENT OF WAVE W(15430-14350) AND GENERALLY CONNECTING WAVE X STOP'S @ SAME LEVELS MEANING WAVEX HAS ENDED AND AS OF NOW WE ARE IN WAVE Y.THIS WAVE Y CAN EITHER BE ANT FLAT OR ZIGZAG CORRECTION,HERE I HAVE CONSIDERED IT TO BE A ZIGZAG,SUB-WAVES OF WHICH IS SHOWN IN CHART.BOUNCE TILL 14730 SHOULD BE USED TO LIQUIDATE LONGS AND BUILD SHORT WITH A STOP OF 14900 FOR AN INITIAL TARGET OF 14200 AND EVENTUAL TARGET OF 13800.
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