Having touched ATH of 19011, nifty has retraced and closed @18972. from the last low of 16828 in mar 23, the market has rebounded to reach 19011 in 3 distinct waves, each raising approximately 980 points (A-B -C). going by that, the target was 19013 (also being the 1.618 levels if the last raise), a retracement of levels is expected 18750 levels. (D wave).
as per my levels, Nifty might open flat to slight gap down around 18950 levels.
18944 will be the crucial level determining whether nifty will fall or raise. if nifty managed to bounce above 18944 after a retest, it could go above ATH. as per fib extension levels, it could go up to 19071.
however a sustained fall below 18944, could go for PE side trade till 18818 and then till 18750.
Nifty levels likely to be 18818- 19020
as per my levels, Nifty might open flat to slight gap down around 18950 levels.
18944 will be the crucial level determining whether nifty will fall or raise. if nifty managed to bounce above 18944 after a retest, it could go above ATH. as per fib extension levels, it could go up to 19071.
however a sustained fall below 18944, could go for PE side trade till 18818 and then till 18750.
Nifty levels likely to be 18818- 19020