Nifty50 - Elliott wave analysis

NSE:NIFTY   Nifty 50 Index
NIFTY - It has two probability as either 5th wave extend further in diagonal structure OR it will correct down in ABC structure. So as far as price remains below 12023.90, stay bearish , but if price crosses above that level than price may form diagonal in choppy fashion. Sell with stop loss above 11975 for down cycle C wave for target up to 11750-650 zone with small quantity.

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