From 14592 wave (i), (ii), (iii) and (iv) is completed at 15137, 14885, 15800 and 15450 respectively.
from 15450 wave (v) is started and projection range for wave (v) is 15912-16197.
Nifty bounced from support range 15650-15557. So it seems wave (iv) is completed at 15567 and wave (v) is already started.
Projection range for wave (v) is coming at 15908-16119.
15650-15557 is an immediate support range. Nifty if trades below 15557 then only negative.
Double zigzag correction from 15044-14885 is looks abnormal but as of now I am not able to see any other wave count.
In this video idea I have discussed my view on nifty and bank nifty. Also shared an idea how we can find out potential stocks for investment(5-10 years).
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In this video idea i have explained the nature of nifty after completion of a correction and how it is behaving from 14151. And also included Bank Nifty analysis so kindly watch for detailed understanding.
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This is Nifty 2hour chart. From 15431 its looks like complex correction is going on and its still not completed.
As of now from 15044 last abc is going on and in which a and b is completed at 14416 and 14967 respectively and wave c started from 14967 may complete below 14151 to complete triple zigzag correction started from 15431.
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In 2hour chart of nifty from 15431 it seems triple zigzag correction is running and final abc decline is pending from 15044. from 15044 to 14416 wave A is completed and from 14416 wave B is started. After completion of wave B, we can expect wave C decline below 14151.
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Nifty 1hour chart is showing that last abc decline of triple zigzag correction may complete below 14151. And in 15min chart also bounce from 14416 is looks like corrective so overall we are expecting decline in nifty from present level or from given resistance level in chart.
For detail understanding kindly watch video.
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In 1hour chart of nifty we are expecting final abc decline on down side to complete triple zigzag correction.
And in 15min chart 14517-14552 is an immediate resistance range and if trades above 14552 then only positive. for detail understanding kindly watch video.
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