We in last analysis expecting NIFTY to retrace from 16118-20 level for its original retracement area of 15600-700.
The Nifty broke out of our invalidation area, and sustained. Now it looks like we may find resistance at the upper trend line and NIFTY might retrace from the same area of trend line.
This is just a view and there are many other possibilities...
Looks like 5 waves downside is completed, now retracement in progress
In that, wave B is unfolding, wave structure in the charts for reference
So, we can expect selling tomorrow (26/05), this will not cross 33370
Update 05 May 2022
- Is Wave (((3))) extending downwards?, Looks like the arms of Wave ((1)) and Wave (((1))) are equal in length. If this is extending, then entire Wave (5) is undergoing extension
Lets market unfold
