#NIFTY heading down in Wave C to complete correction
Nifty's rally from Mar '20 topped out on 18/Oct/21 at 18594 (near month futures contract) - almost a year ago.
Since then we can clearly see a sideways move that has gone within the earlier range for almost a year. One can see the subdivisions tracing out a complex W-X-Y correction. The upmove from 15676 starting early Mar this year topped out last month at 18123 completing the intervening X wave.
The down-up move since 12/Sep/22 subdivides as 5 waves down followed by a 3 wave upside correction. This is now setup for a resumption of the down move in Wave 3 - should be surprisingly fast and deep when it comes , heading to the 13300 - 15100 region.
The view stands as long as the the recent high of 18123 is not broken on the upside
Since then we can clearly see a sideways move that has gone within the earlier range for almost a year. One can see the subdivisions tracing out a complex W-X-Y correction. The upmove from 15676 starting early Mar this year topped out last month at 18123 completing the intervening X wave.
The down-up move since 12/Sep/22 subdivides as 5 waves down followed by a 3 wave upside correction. This is now setup for a resumption of the down move in Wave 3 - should be surprisingly fast and deep when it comes , heading to the 13300 - 15100 region.
The view stands as long as the the recent high of 18123 is not broken on the upside
Michael @ SolomonsView
Twitter - @SolomonsView
Twitter - @SolomonsView
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.