After completing the super cycle W5, Nifty entered into what could possibly be a correction (or a bear market?) in text-book style leading diagonal pattern(Wave 1). Currently its either approaching end of Wave 2 or already just completed W2. Expect Wave 3 to be nasty and swift and deep.
Target Date: Likely by mid to end of June
Target correction: 10 to 20%.
Target Date: Likely by mid to end of June
Target correction: 10 to 20%.
Trade active
Wave 2 is now completed. If the call is correct, we should start seeing sizeable moves to the downside now. The first one will be a relatively controlled w1/wA.
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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.