Here in this chart wave (5) and wave (v) will be in extended zone after breaking 10486 and 10408 respectively. Maximum range of both waves is coming at 10351-10325. so after completion of both wave Nifty can bounce up to 10543 and further it can also extend to 10700.
Most probably one impulse wave is completed from 10774 to 10512. and we can consider it as wave (A) and now retracement levels of wave (B) is coming at 10612, 10643 and 10674 which can be achieved in coming sessions.
I would suggest not to trade for wave B in options and wait for wave C to trade.
If Nifty decline from present...
DO NOT PANIC IN SITUATION
20th Nov 2018 and 21st Nov 2018 fall in NIFTY occurred due to correction and profit booking
Important support around 10600 and 10550
If NIFTY holds 10620 it may move towards Resistance 10655, 10685 and then 10720 onward and also rally upto 10815
in the next week expiry NIFTY may even move towards 11350
Nifty have not achieved minimum target of 10666 which can be achieved in coming sessions. Even if nifty failed to achieve 10666 and came down then 10526-10444 is support range and from this range again Nifty can bounce to 10666 and above. Down side reversal is only possible below 10444.
Nifty Enter Fighting Zone Keep watch... and also form AB=CD
Expect zone 9950 to 10150
watch also Global Factors...
Possible to drop down
The information contained in this presentation is solely for educational purposes only.
On 8th October it was published that Nifty may give a relief rally upto 10750 (Refer to the link below). The Index opened gap up on wednesday 17th Oct and made an high of 10710, just short of 40 points of our pullback target of 10750. Bears tookover the dalal street again after 6 trading sessions to give a closing at 10453 i.e. -257 points from highs.