Forecasting the Movement of NIFTY50

Aug 6

As previously mentioned, the NIFTY50 index is in the process of completing a diametric pattern. The news of the U.S. imposing tariffs on imports from India has already impacted the chart. Therefore, I believe the g-wave of the diametric will transform into a reverse contracting triangle, and the anticipated bullish correction, which I discussed earlier, will take shape in the NIFTY50.
Note:
If the U.S. imposes significantly heavier tariffs than the market expects, the g-wave may become larger.

Good luck
NEoWave Chart

Aug 8

Note

If NIFTY50 falls below 24,328 points and consolidates, the next support level where the price could reverse upward is the range of 24,080 to 24,121 points.