As we know we are in correction of market and its all make sense after great bullish run we saw till 18K +.
As per wave theory, I see that we seems to have completed wave 3 and we are in wave 4. Wave 4 should be completed around upper yellow trendline and then we may se wave 5 coming. I checked the fibonacci retracements and the levels justifies.
Enjoy some bullish days which may remain for ~ 2-3 weeks till it reaches yellow trendline. This is my view and I can be completely wrong.
Any feedback is welcomed. !!!
Disclaimer: This is not a investment recommendation. Pls invest at your own risk.
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Nifty is exactly going as per my prediction. 1000 points gain since posted. Expecting 18000 levels soon. After 18000, it may revert or break 18k to move further. Future moves will be posted soon.
wave 3 complete really?? not at all 15000 level coming
sckeshari344
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@aqibali089, Definitely its coming but remember, correction will happen in phases, it won't be a single day or single week fall. We will be in correction phase till March or April so we will see these up and downs and we should be ready for that.
The current waves that I have plotted are just one leg of correction, these 5 waves could be sub waves for Wave A, then we could have wave B and final wave C which could go to 15000 or 14500.
sckeshari344
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@aqibali089, Bro, sometimes keeping analysis simple works really well than making it complicated.