manilkumar73

Nifty view from 20 April onward

NSE:NIFTY   Nifty 50 Index
Nifty appears to be forming WXY correction which might end at around 13803... Currently it might be forming the B leg of Y which could go around 14570 to 14670 which are a stong resistance area of .500 and .618

Moreover the structure also appears to be forming Harmonic Bat at 13806

Just a view of mine... could be wrong too...
Trade active: the Y(B) leg is in progress and the next Y(C) could be an impulse wave till 13803 & if it skips, may go till around 13600 level...

the level 14250 is a strong support zone.... there is a 3 wave correction which has ended at level 14250 but then taken another corrective view... be aware of it

time to accumulate good quality stocks once correction ends
Trade active: technically a 3 wave WXY correction has ended at 14280 but the recovery was not as swift as it suppose to be..

from 13280 it more looks like an Expanded Flat (3-3-5) which might go up-to 15167-15413
Trade active: currently the A leg is in progress of Y and may retraces up-to 14325 and looks for Y(B)
Trade active: definitely on its path.... brace yourself
Trade closed manually: it took the support of 14250 which might have likely ended the correction... however, the impulse uptrend is not upto the required pace... fresh view will be given..