MendiUser

NIFTY - Ready to Launch into 27000 levels

Long
NSE:NIFTY   Nifty 50 Index
NSE : NIFTY

NIFTY Index since its inception in 1990 - completed Wave 1 in 2008 followed by Wave 2 with FIB approx 0.5 Fib level retracement.

Then continued wave 3 impulse wave until COVID impact with a sharp correction(retracement) to 0.382 fib level marking the completion of wave 4.

when waves 1 and 3 neither of them are extended and wave 4 retracement is only 0.382 fib level, a most likely scenario of wave 5 is extended till 1.618 FIB extension (~27100 Level)

This long-term possibility could take months to make due to macro global and political as well.

However, the current position of INDIA in the Technological and Political Landscape globally. I truly believe this possibility is a quick one to achieve.