Nifty 50 analysis for 19 Oct

Oct 17, 2020

Waves have been marked on chart for easier assimilation .. It appears that Nifty formed a triangle corrective pattern on 16 Oct .. View for Monday is bearish ... If Nifty opens flat, expecting a rally till the resistance zone marked on chart and completing the correction ... Thereafter the minor Wave v should commence and complete at support zone marked on chart ... This entire move should complete the higher degree Wave 3 ... Expecting a pull back from there as part of correction.

Note - Views are personal and meant for educational purpose only, not for trading any instrument