Humbly mention here that nothing is sure and its all a hypothetical view but match with the current contexts.
Nifty is probably in the end of a Minor wave 5,which has already attained the minimum projection(38% -61%)
value and made a new peak 11856, but still not completed a pattern.so far it was moving like an impulse with a meek start.
Since the assumed wave 3/C is corrected more than 50% and the still pending, we may expect a possible scenario of wave 5 turning into an ED which will be an all 3 waves in which the First ABC is completed at 11856 and may further devolve in to a form, somewhat marked in the chart. The end of this correction,current wave 2 will give a better cue for the size & the pattern.
There was many questions about the break even point weather it is 10940 or 10585 , but in impulse wave it cannot come so deep, where as in Ending Diagonal it is all possible and wave 5 is the place where we can expect such move.
Nifty is probably in the end of a Minor wave 5,which has already attained the minimum projection(38% -61%)
value and made a new peak 11856, but still not completed a pattern.so far it was moving like an impulse with a meek start.
Since the assumed wave 3/C is corrected more than 50% and the still pending, we may expect a possible scenario of wave 5 turning into an ED which will be an all 3 waves in which the First ABC is completed at 11856 and may further devolve in to a form, somewhat marked in the chart. The end of this correction,current wave 2 will give a better cue for the size & the pattern.
There was many questions about the break even point weather it is 10940 or 10585 , but in impulse wave it cannot come so deep, where as in Ending Diagonal it is all possible and wave 5 is the place where we can expect such move.