Hi there,
Nifty Closing today 29/09/2022 : 16818 spot
Since last 3 weeks if we observe Nifty movement there is lot of selling pressure.
From the recent high of 18096 levels Nifty has declined almost 7.5%.
In the chart if you observe I have drawn a primary wave .It looks like we are in the wave 2 of that Elliott wave.
wave 2 will be mostly 3-3-3 or 5-3-5 corrective...