rf16saun
Short

Be cautious to go long Nifty tomorrow

NSE:NIFTY   Nifty 50 Index
It seems we are yet to complete Wave 4, per my previous analysis nIfty             would have been moved higher to complete Wave 3 of 5, but today's drop just after approaching 78% retracement suggest that we just completed the correction B, and drop was the completion of C. As C will complete smaller 5 waves, before closing small pull back looks like completion of wave 4 of C. If not, we might get deeper pullback tomorrow to the upside but be cautious i don't see the wave 5 of C. I will be more cautious as daily candle has closed below 9 EMA and ther's a cluster of support zone around 10410. Be cautious to take any long calls before we see the wave 5 completion of C.
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