Nifty corrected in a downward Elliot 5-wave pattern. The impulse waves 1, 3, and 5 are equal in length.
The Elliot waves are complete only at the end of the 5th wave of the 5th major wave.
This is also confirmed by the divergence in RSI.
The market is likely to continue its original uptrend after the completion of the downward correction.
The Elliot waves are complete only at the end of the 5th wave of the 5th major wave.
This is also confirmed by the divergence in RSI.
The market is likely to continue its original uptrend after the completion of the downward correction.