Nifty: Short term view

Sep 19, 2022

Hi Friends,

In this post I have tried to explain short term view about nifty & this post is in the continuation of the last trading view post!

Here, W (4) @15182 level, now since then we are in uptrend..

Now, we are in last phase of bullishness i.e. in wav 5 & its look like we are in wave 1 of (5).

Here, on 15 min TF

W(1) completed @ 15929 & W(2) got completed @15507



& its look like we are in extended wave 3 where wave 3of (3) got completed @18007



& since then it looks like we are in corrective mode where, the pattern getting formed in the form of Flat or extended flat.



Now, wrt Fibonacci retracement for wave 4 it looks to be bullish as long as nifty is trading above 38%



and finally sharing you the diagram for 15 min TF for better clarity