AJAYSHARMA

Bears could be trapped in Nifty

NSE:NIFTY   Nifty 50 Index
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Nifty seems to be ending w-x-y a complex correction . In wave y , Wave C seems to be forming and expanding diagonal . Wave 5 of an expanding diagonal always exceeds the end of wave 3 and Since this is also an Ending diagonal all internal waves should be 3's and wave 4 overlaps wave 1,

So 9370 will be broken . But if the labeling is correct then there should be an extremely sharp move upwards for either a new impulse or a final X wave . So shorters need to lighten up and go neutral .
nice analysis
thanks
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