We had 2 downward selling momentum, the first one mainly due to the gap up opening - which saw a loss of 106pts by 12.00 and then the 2nd one between 14.40 to close which erased 99pts.
Technically Nifty has fallen only 55pts today, the gap-up messed up the numbers. So we had a dip below the yesterday's swing low and retraced all the way to the close of 10th...
Crucially, equality ratio can react as stiff resistance in Ending Diagonal triangle.
for wave ((5)) = ((3)) at 517.9 and for,
wave ((5)) = ((1)) at 514.95
Key Reversal zone - 511
Flat, a "sideways" correction is completing for wave "X".
Unfold in three waves as ((A)), ((B)) and ((C)) blue generates a 3-3-3 internal signature in real-time analysis...
This pullback can push price 9066 up to easily.
At a,b and c of 50% retrecement zone from where price started to move downward.
Value area with 3 control lines has plotted on parallel channel.
The control C1 and C2 is stronger than C3.
Value area is predicted by price and control price. There is more chance to continue to fall.
Nifty is...
