Looks like Nifty already completed it's 5 wave bullish sequence on monthly chart and currently correcting the entire wave 5 sequence which is essential for next bull run.
Normally such correction may end near to the previous 4th wave span ( levels as highlighted : 9119-6825).
This is not a trading call, Just trying analyse where we can look for the bottom for a long term investment.
i find it highly unlikely for nifty to go below 9100-
infact breaking 10k will not be easy
gulz
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@KumarAbhilash, Yes, 9900-10k is strong support.
Thanks for the view - I just shared what i noted while i counted the waves.
i anticipate an upward rally in 3 waves for short term from 10k level and later on another crash to the above mentioned level as a bigger wave C. Anyway lets wait and watch :)