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Niftye_elliott_wave

Nifty updated counts (Elliott Wave Analysis)In this post I will be discussing 2 Hypo's basically both are suggesting that we have atleast one more up leg remaining before some big downside can be seen. Hypo 1 posted above suggests that we are in an Extended W.(5) which looks to be in it's final stages. Hypo 2 posted below considers W.B/2 as a Running Flat instead of a Triangle and suggests that we may be currently moving in an Extended W.(3). Will update further as this market progresses.
NSE:NIFTYShort
by NeeravYadav
2
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.
NSE:NIFTYShort
by NeeravYadav