EW analysis on Nifty- Are we heading down?

28 thg 6, 2020

After an impulsive move from 12430 to 7511 we saw correction from 7511 to 10554 levels. Correction took the form of zig zag wherin A wave looks like leading diagonal followed by B wave (3wave move) and ongoing Wave C is near completion range. Now it looks like wave C will be followed by 5 wave downside impulsive move. So it is better to stay cautious with long positions at this level. View negates above 10560 levels.