Balas282

Can we expect Triangle formation in Primary wave 4

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Balas282 Updated   
NSE:NIFTY   Nifty 50 Index
Primary wave 4 could be in sideways correction where Wave B is in progress in triangle or Flat . Looks like move below 9500 hardly possible. Each wave expected to take 60 to 85 days cycle time.
Comment: Wave 3 might be getting exhausted around 11320 to 11330 level unless elongated extend. Expect Wave iv to take over.
Comment: More likely wave 3 is done. Lets see if entire gap gets filled by wave 4. Keep your view open for wave 5 when wave 4 retracing wave 3 move by 38.2%.
Comment:
Comment: Another Possible count. Wave e can follow 3 wave or 5 wave format. would say that upside is limited here as its moving with no strong pullbacks. Atleast Min 38% retracement will guarantee there is still more leg pending towards upward.
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