AS PER CHART WE CAN SEE CLEAR THREE WAVE PATTERN FROM 16/02/21 TO 26/02/21 WE CAN LABLE THAT WAVE AS ABC CORRECTIVE WAVE AND FROM 26/02/21 TO 12/03/21 WE CAN SEE SMALL WXY CORRECTION WHICH I HAVE LABLED AND AFTER THAT NIFTY AGAIN FALLIN THREE WAVE FROM 12/03/21 TO 19/03/21 AND BOUNCE BACK IN THREE WAVE PATTERN AND THE BOUNCE IS EXACT 50% OF RETRACEMENT FROM 12/03/21 TO 19/03/21 IF IT HOLDS LOW OF 19/03/21 WHICH IS 14350.1 THAN WE CAN EXPECT BOUNCE BACK (THIS IS BECAUSE IT WILL GO UP IN THREE WAVE PATTERN) OTHERWISE NIFTY CAN TOUCH UP TO 14091 AND 13876
Trade closed: target reached:
as you can see that nifty has taken support of 78.6% i.e 14091so we can see some bounce back from here