Attached: Nifty 50 Daily Chart as of 7th July 2023
Price has closed below PDL marking the End of the 5 wave rise that makes up either the 3rd Wave or the C Wave
In both case, whether it is there 3rd or the C Wave, post completion of a 5 wave impulse be it whatever degree of the wave, there has to be a Retracement at the very least
Price has 2 downsides going as per the Retracement:
Target 1= 19200 (Gap Area)
Target 2= 19030 (Super Trend Support)
On further break below 18975, the Downside can accelerate to fill the 3rd Gap @ 18815
Last Line of Support is 18640....
Price has closed below PDL marking the End of the 5 wave rise that makes up either the 3rd Wave or the C Wave
In both case, whether it is there 3rd or the C Wave, post completion of a 5 wave impulse be it whatever degree of the wave, there has to be a Retracement at the very least
Price has 2 downsides going as per the Retracement:
Target 1= 19200 (Gap Area)
Target 2= 19030 (Super Trend Support)
On further break below 18975, the Downside can accelerate to fill the 3rd Gap @ 18815
Last Line of Support is 18640....
