Nifty strong down move possible (Elliott Wave Analysis)
From the current count it seems that Nifty is in a-b-c Flat correction with the current move up being the completion of W.b .
If W.b has still more upside remaining then that should remain restricted till the 11123 level, a close above that on daily basis will signify that bulls have taken over and hence this level will serve as both the Invalidation Level for this count as well as SL for all possible shorts.
A close below 10922 will confirm the bearishness and would be an Indication to look for sell side setups which can see targets to the downside of 10419 to 10335.
If W.b has still more upside remaining then that should remain restricted till the 11123 level, a close above that on daily basis will signify that bulls have taken over and hence this level will serve as both the Invalidation Level for this count as well as SL for all possible shorts.
A close below 10922 will confirm the bearishness and would be an Indication to look for sell side setups which can see targets to the downside of 10419 to 10335.
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Author : Think with the Markets
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