Wednesday, August 14, 2019

Nifty elliottwave analysis

Lets look at the nifty count .

The popular count doing rounds is nifty impulsing down.
Check this count .

The fall to me looks complex ,Though the c of Y does show 3rd wave fall conditions (continued falling even in extreme oversold situation),The present situation shows as long as 10900 holds
A high above 11200 looks possible ,The waves are overlapping in this upmove so need to be watchfull,Probably a X wave move is on .Below 10900 a new low looks quite easy .Lets see how the chart behaves .


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