Nifty 50 analysis for 01 Dec

NSE:NIFTY   Nifty 50 Index
The move from 12790 to 13035 was a motive wave .. Yesterday, Nifty commenced its corresponding corrective wave and the same unfolded in a 3 wave pattern, suggesting that the pattern would end up as a flat/extended flat correction .. Wave A of the pattern appears to be complete .. Expecting Nifty to open gap up on Tuesday ... Depending on flat/extended flat correction , Nifty would reverse from either 13035 or 13065 levels with targets as 12915 and 12885 respectively .. From there, the bull run should continue .. Watch out for important time zone of 1220 and 1255 hrs .. Support and resistance for the day has been marked on chart.

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.