Nifty is in its final up-trend and it may touch 16500 level (at-least 16300) where wave 3 of major degree completes. After this, it may start a correction and market may trade in negative for 2 years.
@ckirtane, there is down side (40-60% fall) but first it has to finish up-side move and it may take a month or two.
borntobenaked
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How do you decide 2 year period? Crossing of what level will mean that expected trgt 16500 scenario has changed and higher levels can also come?
dhinesh_kumar
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@borntobenaked, Based on fib time sequence, next correction may take approx. 21 months to complete.
Nifty has already started its up-trend. We can expect it can trade above 16300 level before 6th Aug.
dhinesh_kumar
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@borntobenaked, I expect maximum it can reach 16800-17000 levels. As it is already trading in over bought levels, soon we can expect correction.
Xyz102sam
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@dhinesh_kumar Perfect, I am expecting it to reach 16300 levels, but can you please elaborate why it will be in downtrend for 21 months. I was expecting it to reach 12k levels before uptrend. Will it take 21 months to reach 12k levels 🤔
dhinesh_kumar
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@Sunny102s, I expect there could be 40-60% in down-side and also the up-move from 2009 completing here. So the next correction is major one and may take time to complete. I expect it may take at-least 2 years.
Xyz102sam
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@dhinesh_kumar 40-60% is huge, I wasn’t expecting this much 😐so u mean from 16300 the reversal will start or it can touch 17k levels n then will see correction of 40-60%