Nifty continued the fall without able to mount any serious pullbacks and all attempts were sold into. Now let us carefully analyse the fall from 10,490 till now. We could count it as an impulsive 5 wave fall or as a double zigzag. In both situations the last leg of the fall started from 10,344.
Let us analyse the last leg of the fall which started from 10,344 in detail to get more information.As per my analysis we have completed waves 1-4 and we are currently trading in wave 5. The minimum target on the downside is 10,160 and maximum could be 10,125.
In all probabilities we could find a bottom tomorrow between 10,125-10,160. The targets on the upside could be anywhere between 10,280-10,360 which could extend to new ATH as well.
Good Luck !!!
Let us analyse the last leg of the fall which started from 10,344 in detail to get more information.As per my analysis we have completed waves 1-4 and we are currently trading in wave 5. The minimum target on the downside is 10,160 and maximum could be 10,125.
In all probabilities we could find a bottom tomorrow between 10,125-10,160. The targets on the upside could be anywhere between 10,280-10,360 which could extend to new ATH as well.
Good Luck !!!