Nifty Forecasting - Potential Down Move

NSE:NIFTY   Nifty 50 Index
After a Sharp Weekly drop last week nifty might consolidate with 50% upmove and if the upmove is a corrective wave pattern then a potential down move would take Nifty to test the previous breakout levels around 9100 levels in the coming weeks. The current down move can also turn out to be a side ways movement for several weeks which would mean new highs would come again.

Happy Trading!


IMO, Nifty will reach around previous high, by around 21.8 (1/2 days more),
then 2 probabilities

1. Either to keep moving on the higher side to 10500/10600 and above that, may be to 11K
2. To move down wards for around 9500 levels and below that to 9300/9200 levels

So, 21st to 24th may prove decisive.
if nifty comes down anywhere near 9100 ,it would be v good buy
Waiting for some kind of corrective structure to form before entering the trade with target of 9657- 9280 -9015.
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