NIFTY TO BREACH 16385 FOR BEARISH
The ongoing recovery wave(Not impulse wave)Labled as W,X,Y,X,Z
The interesting part is, wave 'Z' should be less than wave'W' for the end of Recovery(4/B)as triple ZIGZAG
But wave'Z' is more than1.382 times of wave'W' but less than 1.618*W.
This situation has two chances
i) Either WAVE 'Z' completed(since C<1.618*A) OR
ii) formation of expanding triangle in wave'Z'', {Remember, 'Z'wave may extend upto 2.618 times of wave 'X'}
Hence we have to wait till wave ''D'' sharp correction to complete upto 16385.
in case if it violates (breach of 16385),we will have confirmation that NIFTY IS IN BEAR'S GRIP
please expand the chart and see the full view
The interesting part is, wave 'Z' should be less than wave'W' for the end of Recovery(4/B)as triple ZIGZAG
But wave'Z' is more than1.382 times of wave'W' but less than 1.618*W.
This situation has two chances
i) Either WAVE 'Z' completed(since C<1.618*A) OR
ii) formation of expanding triangle in wave'Z'', {Remember, 'Z'wave may extend upto 2.618 times of wave 'X'}
Hence we have to wait till wave ''D'' sharp correction to complete upto 16385.
in case if it violates (breach of 16385),we will have confirmation that NIFTY IS IN BEAR'S GRIP
please expand the chart and see the full view
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