Nifty Double zig zag correction Mar 2021

NSE:NIFTY   Nifty 50 Index
Nifty made low 14350(Wave 2) this is nearly 0.618 fibonacci level(14297) of previous rally after budget from 13597 to 15432(Wave 1)

Since correction is deep this is double zig zag correction.

Upper channel line target comes around 15200.

Nifty made Piercing Line candle Stick on daily chart on Friday 19th Mar 2021.

Swing high 15337 break is confirmation of correction completion for 3rd wave least target 16185.

If channel and 15337 is not broken then there is possibility of Tripple Zig zag correction.

DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.

I may or may not trade this analysis


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.