I have marked two red circles on the chart, depicting a classical double top bearish pattern and what we call a flat correction in EWT .. Accordingly with the first 15 min candle, it was evident where Nifty was headed to today .. had been a flat correction for the rally upto 12022, Nifty should have taken support at 11860 or 11820 levels and continued with the rally ... However, the fall continued and Nifty closed below 11700, maybe indicating that the correction is not of the previous rally till 12022, maybe Wave 4 is not yet over ... Waves have been labeled on chart .. A food for thought, probably, Wave 4 is still continuing and is an Extended Flat correction .. today it might have started unfolding its final wave Y .. If that be the case, then we are headed to probable 10500 levels ... For tomorrow, 11600 is a key support zone and the resistance would be 11760 as marked on chart ... If Nifty manages to break the support in coming days, then probably our assumption of it being an extended flat correction might well be true.
Note - Views expressed are for educational purpose only and not meant for trading instruments
bhai mkt close hone k bad jab dil kare bhi p apni a b c rakh diya kro kya fraq padta h hona tu 100/ wrong hi h
raj0778
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@sanjeev123singla, bhai .. market kisi ki personal jageer tho hai naheen ki uske hisaab se chale .. meine tho naheen bola ki aap mera view dekhein .. mujhe jo lagta hai woh share karta hoom .. views r personal, nobody out here is forcing u to trade based on that .. so chill n kindly do me a favour by ignoring my views henceforth 🙏🏼🙏🏼🙏🏼
raj0778
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@sanjeev123singla, aur rahi baat market close hone ke baad views dalna .. so bhai, market hours r for trading, which i do .. n to post, it takes efforts n time .. n m not getting any benefit by doing so .. i do it just because, I failed a lot trading n wanna be of some help to others ... u won’t understand .. if possible, aap hi gyan baat dijiye ki a b c kahan rakhoom aur market ka kya movement hone wala hai
ckirtane
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yes there will be pull back up to 11760 but final target looks 11275/300.