Option-A:- Nifty in the terminal stage of an ending diagonal, provided it does not fall much beyond 2850..another bounce to 3120-3150 & a fall to 2850-2875 & then a good rally is possible as per this scenario.
Option-B:- Nifty is doing a running 4th wave correction and likely to start a most severe fall reaching 2600 ( or below).Most bearish.
Option-B:- Nifty is doing a running 4th wave correction and likely to start a most severe fall reaching 2600 ( or below).Most bearish.
looking at the ew chart of nifty, the pullback upto 3648 seems like C-3-(4), it was tentatively marked so on given ew chart, it also falls within the given time period till mid of this week as stated in last weeks ew post.
in all probability, on weak global cues nifty will open gap down and hence C-3-(5) will progress which will create more positive divergence on rsi, at the end of C-3-(5), our tradeable bounce i.e., C-4 will begin.
likely tgt for current short term downtrend i.e., C-3-(5) is coming at 2870(tentative).
our nifty bottom poll ends today, most readers/visitors of this blog were aware that mkt hasn't formed the bottom yet.
***ew analysis is speculative in nature, readers advised to follow own d
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