Nifty 50 IndexShort
Nifty Correction for today, tomorrow?
Updated
This is quick analysis only for today and tomorrow (10th and 11th Dec). We are using 15 Mins Time Frame.
- Seems on lower Time Frames of 15/5 Mins, we have Nifty going through Distribution zone and in complex corrections as per Elliott Wave model
- As marked here, we "may" be in middle of small sub c-wave formation on 15 Mins TF. If spot price ditches PDL (Previous Day Low) and also then sub a-wave downside, then we are in good confirmation that market is going downside to complete sub c-wave today/tomorrow. It has to surpass 24550-24500 though
- If it goes down, we may have a small demand zone at 24400-24350 (marked in chart as green zone) where price may either consolidate and go upwards or distribute and try to go downside. In short, this will be our checkpoint of next steps after the downside view execution
- Seems on lower Time Frames of 15/5 Mins, we have Nifty going through Distribution zone and in complex corrections as per Elliott Wave model
- As marked here, we "may" be in middle of small sub c-wave formation on 15 Mins TF. If spot price ditches PDL (Previous Day Low) and also then sub a-wave downside, then we are in good confirmation that market is going downside to complete sub c-wave today/tomorrow. It has to surpass 24550-24500 though
- If it goes down, we may have a small demand zone at 24400-24350 (marked in chart as green zone) where price may either consolidate and go upwards or distribute and try to go downside. In short, this will be our checkpoint of next steps after the downside view execution
Trade closed: target reached
It did reach downside and accomplished touching c wave completion. 
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