Right now I am seeing provided count in Nifty 50 from the Elliott wave perspective and I believe that the bull market which is started from the covid low is yet to finish, this was the halt in between. I feel the price-wise correction is completed and Nifty will spend some time here before starting a new up move. I might be wrong but my wave counting is keeping me bullish on Nifty for now.
The view is purely for educational purposes and I am not a Sebi registered financial advisor. Please consult your financial advisor before taking any trade based on my view.
The view is purely for educational purposes and I am not a Sebi registered financial advisor. Please consult your financial advisor before taking any trade based on my view.
Comment:
As Expected Nifty touched the 18350 and dropped from there for the correction. And today it touched 17650 on the downside. Now it is ready for the new up move as long as it is protecting today's low. If today's low is not protected then nifty can drop further till 17450 to 17350.
there is the resistance between 18200-18350 now, so Nifty can do a dip till 17800-17600, and will resume the remaining trend again towards up.