Nifty upmove expected beyond 16700

NSE:NIFTY   Nifty 50 Index
Nifty 15 min chart looks wave iii completed today for upmove started from 16162.

Wave iv is expected to end between 16505 which is 0.236 fibonacci retracement or 16453 0.382.

Consider 0.382 fibonacci retracement wave V target will be 16716 if reversal takes place from 16505 the target will be 16770.

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