We can observe on the monthly chart that market is moving up in waves.
There are up waves and there are down waves. Up waves are larger than down waves, so it is an uptrend.
It can also be seen that after every up wave there is a correction of the order of 40% to 50%
Based upon this historical data, we can expect a correction of this magnitude in the current...
As i mentioned yesterday Nifty didn't touch 9018 level, Nifty fell into the range bound for another couple of days.
As per Elliott wave count Nifty finish its 5 of 3rd wave and 4th wave would be Range bound. Target for this corrective wave is 8700 - 8692. Its very tight range we can enter BUY on those level to capture the final leg of this entire B wave i.e....
HI EVERYONE, As per my last post i mentioned Nifty reaches its 3rd of 5th wave resistance level. Yesterday market hold on 8650 and confirms the nifty enters into short term corrective structure.
Wait and enter long on Next month. NIFTY Targets are 8737, 8975 and 9018