Nifty EW count analysis
Nifty is currently trading (22032) in 5 of III wave.
Soon it will be followed by corrective wave IV.
On down side it have a 2 support zone from where it can reverse(21470 & 20950), which can mark the End of IV wave and starting of V wave.
As Nifty is rising continuously there is divergence in RSI.
This is my 2 Cents. It is for Educational purpose only. Not a Buy/sell Recommendation
Soon it will be followed by corrective wave IV.
On down side it have a 2 support zone from where it can reverse(21470 & 20950), which can mark the End of IV wave and starting of V wave.
As Nifty is rising continuously there is divergence in RSI.
This is my 2 Cents. It is for Educational purpose only. Not a Buy/sell Recommendation
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Currently Nifty is at 21238 .Almost 800 point fall in nifty from 16 jan.
Today it has closed below first support of 21400.
Next support is in range 20950 to 20750.
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