In my last nifty post nifty analysis had mentioned about Y ending in 4700-4600 range
we reversed from 4700+-20 points,Had categorically written about a good relief rally .
We did see fantastic pullback(4700-5400)a three wave move suggesting another complex
corrective wave.The following chart shows that.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhA-rArqv7W_2qbRbjMEvAih5jKmxjGDHXx4Jm6GfKpZCDao2LOxgP6sJ0hqG-6qMlxJ3ljp4yDuaZgZMN3y2cq3qUBt7ZNEBdJhrzlmc4A1RRPfYvdBao2iRp1xHw09aWYLDQi/s400/niftyyyyyyyyyy.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpF8qg-3dD1L3teuOa7mx7UkD4vqw5gg2FMbgmPo0O0aqJ9QVN2FPoociCDshwgsMwjtAuGj1QjiKKtX_DTor4cDYh15vfDvb0-BJWGyRzjTLgKiAYWtzZR-rVHI3-8x0YsXzs/s400/NIFTY+WEEKLY.png)
expected abc unfolding over next few months,a can be finishing near 4700+-50
b can go back up to 5000+-50 the final c can go to 4500 levels if it stretches then 4200-4000.
The point to stress here is you see each abc retraced 60% of previous abc ,Which usually happens in complex corrections,That's the reason we are yet to see panic in Indian markets as the rises retracing the drops upto 60% and dropping again so a slow drop nevertheless lowertops continuously !!!!!!,Would update if market does something else.
RESEARCH REPORTS