Nifty has been in the parallel channel for quite some time and has completed the 5th Elliot wave. We are likely to see a zig-zag correction where wave A is completed. Wave B is most probably the last bull run we'll see ahead of Diwali. The support line of the parallel channel is likely to be broken and I'm expecting a sharp correction in nifty (wave C) to 17000 levels. Trade carefully. Please share your opinion on this analysis.
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