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Thirdwaveinception

NIFTY: Wait and Grab the Perfect opportunityThe rise from the Mar'20 bottom was an impulsive move which should be considered as the Primary Degree Wave-1 concluded near the zone of 18600 in Oct'21. From that top Nifty50 fell down in a corrective way and made a low of 15183 in Jun'22. This fall was not even reached to Fibonacci 38.2% retracement level positioned at 14400 zone where the previous fourth of 1 lesser degree is also placed and we have seen a rise in the Nifty to test the all time high and made a new high of 18887 in Nov'22. The rise from the bottom of 15183 is more or like a corrective rise and can be treated as part of FLAT CORRECTION (expanded Flat) or a part of COMPLEX WXY correction. As per this view Nifty is likely to hold below 19000 and fall towards 16750 /14400 and 13000 level in the coming months. The nature of the fall will decide whether we are in a C-Wave of a FLAT or we are in a Y-Wave of a COMPLEX WXY correction. As soon we reach in the zone of 14400-13000 which is the Fibonacci 38.2%-50% retracement zone we can consider that area as the long term investment zone as our Primary Wave-2 is going to conclude in that area and we should be ready for a massive THIRD WAVE RALLY in the Indian Equity market. Remember Third Waves are the "WONDER TO BEHOLD".
NSE:NIFTYShort
by TradingSutra
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