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NIFTY-50 LOWER TIME FRAME 15MINNIFTY-50 is in C major wave of the abc correction.
We have completed wave 1 and 2. We are currently in wave 3 of C out of which we have completed inner wave (i) of 3. And again we are in wave 2 of major wave 3.We can expect nifty to retrace upto 17330 then we will continue to downtrend.
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Nifty 50Nifty 50 is showing 5 wave structure completed on down side in hourly time frame. 5th of 5th could be truncated. Price may retrace upto 38% to 62%. Price may take resistance of 50 ema in daily time frame as well as daily.
hourly macd positive cross over after 13 january
hourly RSI is gaining strength