forextidings

NIFTY Elliott Wave Analysis - ABC Correction Targets

Short
NSE:NIFTY   Nifty 50 Index
Nifty has touched the dynamic resistance ( DR ) level and started declining. At present, RSI is under 50 level. It's a sign of a downtrend.

Moreover, according to Elliott Wave theory, Nifty will stop climbing soon. And ABC correction will initiate from here.

Targets: 12460 - 12000 and below

Note: Selling pressure will come after a breakout of the support trendline. Don't sell above DR .