Nifty may decline towards 18021-17425 range in coming days. wave (v) started from 17554 is extended so there is a possibility that it can retrace up to 17554.
I have counter view and believe we are in iii of 5, and we may extend this rally further. Weakness only below 18190 and short term structure changes only below 18030/18000
shriksch
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sahi pakde hai chiragji
sabu_m
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I too have a difference in opinion. if its a 5th view extension then the 5th wave cannot be over yet as it should be much longer.(5th should either be 100% of the move from 0 to 3, or 161.8 % of the total move from top of wave 3. However another possibility that merits a consideration is that this current move from the 16914 levels could be a corrective move of a zigzag. and the move until 16914 could be part of the previous move either a C Failure / 5th failure.
Weakness only below 18190 and short term structure changes only below 18030/18000