Nifty in Waves - 10th May 2020 - Ongoing Correction

NSE:NIFTY   Nifty 50 Index
Waves are Tricky to understand, but B Waves are the most tricky of the lot.
It gives a false hope to the investors & they get trapped .
Current Situation in Nifty - After the current rapid fall in nifty from the recent highs of 12152, it seems Wave A is completed around 8055/8360. (7520 - an emotional down wave). From these levels we have started a slow rise, which is B Wave. B Wave will have 2 parts in it, the First part might get completed near abouts 9570/9670 & then a fall towards 8900/8700/8300, from there it may rise again to the levels of (hold your breath) 11500.
This seems a flat wave correction & generally in flat wave, B Wave tends to rise upto around 78% of A Wave, which conincides with the gap around 11400-11500.
All this correction might complete around august end or September mid week.
From there we will start another Glorious fast rally.
Comment: The upside that was mentioned between 9570-9670, seems it has completed today & we might get a good sell for a target of 8500/8200 by this month end or by mid june.


Sir Great Work ✔
Kshitij_008 vrahuliphonex
@vrahuliphonex, thanks a lot!!
what a brilliant explanation ..
@probals, thank you very much!!
Thanks for sharing your ideas,so that we may hope for Nifty abt 9600
@lu00000, yes, as of now, it seems one last upside is pending, probable 9500/9700 near about.
VijayBandekar Kshitij_008
@Kshitij_008, will this be achieved today
Kshitij_008 VijayBandekar
@VijayBandekar, No it wont, it might come by wednesday or thursday, SL would be 9130
nice work
Kshitij_008 sssidhhh
@sssidhhh, Thank u so much!!
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