Nifty is not done yet as per this count and there's clearly more upside to be seen in coming weeks.
Alternatively an expanded flat in red wave iV cannot be ruled out for now, which however would still lead to more upside later.
I will update the chart as it develops further.
Thanks for reading!
-Nifty today gave strong bounce from 78% levels Expecting wave 2 bottom here & wave 3 first target is around 17600 zone
Also as wave 2 was retraced more than 38% we can expect wave 3 to be extended i am expecting around 127% but that's our 2nd target
This analysis get invalidated if nifty breaks 16750.
Hello Traders ,
as we have seen today Nifty has open gap down and make a day low of approx 250 points and then it move toward up direction .
so our view for 28th Dec 2021 is bearish, reason behind this is elliott wave principle calculation of flat pattern . as shown in figure
