Kshitij_008

Nifty Possible Waves Count - 5 WAVES - 22nd March 2020

Short
NSE:NIFTY   Nifty 50 Index
Hi

Have charted the course of Nifty for coming few days in Wave Structures as per my understanding.
It Seems we have completed the 3rd Wave on 20 March 2020 & now 4th Wave is going on, which might go up to 9200 Approx. From there we might have another opportunity to Short for a target of 7500 approx.
IMO, this bottom near 7500 would be a completion of Either WAVE 1 or WAVE A, which we will come to know after few days of the extent of the upmove in Wave 2 or WAVE B.
As per me, after a big move in the 3rd WAVE, generally the 4th move gives a time correction, so we might have a triangle correction in coming Weeks/Months.
Still this is a theory, we will be sure once we get new/relevant data for analysis in coming days/weeks.
Till then, It seems we might bottom out for the time being in coming days & can go long for upside targets of 9500 to 11000 around 7500 approx.
Comment: 7500 almost there...seems 5 waves finished...hereon...we will have the trecherous B Wave, wherein...everybody will start screaming to buy for long term, but yet we are not out of the woods.....we wait untill the real reversal happens.

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