Nifty 50 IndexLong
What should we do as investor?worried about Corona virus
My answer based on Elliot wave is "No" . Wave structure is now getting bit clearer.
Wave 3 of the long term bull market is over.
What we saw for last few week was sharp "C" wave of "A" in 4th wave correction. This A of 4 is over but correction is not as we have 2 more legs B and C in 4. As A or 4 was Flat correction, B of 4 will be either Zig Zag or diagonal followed by Sharp C in 4th wave correction . My preference is Diagonal as it will create base for sharp C. Expect this correction to continue for about 160 weeks that is till Mid 2023. This will be followed by wave 5 of the long term bull market.
Regards
Anil
Wave 3 of the long term bull market is over.
What we saw for last few week was sharp "C" wave of "A" in 4th wave correction. This A of 4 is over but correction is not as we have 2 more legs B and C in 4. As A or 4 was Flat correction, B of 4 will be either Zig Zag or diagonal followed by Sharp C in 4th wave correction . My preference is Diagonal as it will create base for sharp C. Expect this correction to continue for about 160 weeks that is till Mid 2023. This will be followed by wave 5 of the long term bull market.
Regards
Anil
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.