ew-forecast

Nifty: Correction Near Completion

NSE_EOD:NIFTY   Nifty 50
We are tracking a correction against previous five wave movement. That is a three wave pattern, a-b-c move with current wave c in final stages. Support can be found around 7500-7350 area.


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THANKS FOR POSTING CHART WITH YOUR COMMENTS,
+1 Reply
HI. Thanks for sharing your charts on this instrument.

Due to lack of historical data it is not easy to tale longer term view as to its direction unless you compare with other instruments of similar nature. So agree with your view overall.

However, just wondering if based on EW principle you could have both leading diagonal and ending diagonal in the same cycle.
+1 Reply
Hi Dan, thanks for the comment. Yes you can have both leading and ending diagonal in the same cycle.
Reply
7550 around forms double bottom, may not be back any time as long as 7680 is safe.
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