On 1W TF there is a zone between 10900-10600 from where NIFTY bounces back majority of the times. So we can expect the same action to be followed again.
Correct..it will bounce back yesterday and next week it may touch 11300-11350 and then again the LH and LL formation will continue...just my personal view
MOHIT09
⋅
@Karu142, According to Elliott Wave Theory, at present NIFTY is forming 3rd wave of correction after advancing for a 5 motive waves. Now we just need to see that this is a 5 corrective waves or 3 ?
If these are 5 corrective waves after which 3 motive waves followed by again 5 corrective waves...this will result in long bear run. or
if these are 3 corrective waves then we can see 5 motive waves following this correction and NIFTY forming new highs