Nifty Elliot Correction wave Down Trend Confirmation pattern

Stock_Inshot Updated   
NSE:NIFTY   Nifty 50 Index
As per my study ,
i assume its a confirmation of down trend with high low- lower high & lower low - down trend formation pattern. With Elliot collection wave ABC pattern which seems to be formed on chart
(may be wrong may be right)
as per fib level it may touch 0.5 fib levels with a support near DSMA 200 as well near support zone 16350-16300
overall sentiment - Negative

Note: Only for educational purpose .
based on past chart patterns & Experience we assume this may happen as price also repeats its history/pattern
Price is supreme may move in any direction.
Elliot wave WXYXZ
pattern completed


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.