NIFTY projection

Swarnendu_Mitra Updated   
NSE:NIFTY   Nifty 50 Index
NIFTY projected path after it hits bottom (ignoring a small 150/250 bounce as internal W4 which will waste footage only other than correcting the oversold oscillators).

If it's ED4, another ATH will come from 11100-10900 Zone (green path).
If it's W4, fall may continue after a considerable big bounce upto 11500-11700 zone then red path back to 10700-10500 zone.

10946 is a Fibonacci number
10927 is coming as a fibonacci target confluence
11025 & 10816 are Gann Neutral Squares with midpoint at 10920.

NIFTY has entered it's previous consolidation zone

Internal W4 bounce (as expected for 150/250 points) seems done today and W5 started, should go for 109XX, where this leg of correction should be over.

After that, plan is to take long trade for either B bounce or ABC above ATH depending upon the structure of bounce..
109XX should come now. Will have to see there whether to book current short and reverse, or hold on for more..
Trade active:
Done, If Friday low remains intact on Monday, can reverse and go long for 11400-600 or even 12700. For now short trade continues, sustaining below 10800, lower targets will open..
Some correction in outlook. Expecting one more low below Friday's low before reversal, so can keep holding short unless sustaining above 11050. Can go long here..

Another entry, reverse & buy below Friday's low with 10790 CBSL or 10730 touch, whatever comes first.
Bulls SL 10790CB/10730 touch
Bears SL 11050 sustail.


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