Correction in progress,Bull market is on.

已更新

The study for nifty is from june 2022.
of course I may update this study with another
weekly chart.there we can see major out look.
From june 2022 five wave up move completed on dec 22
that is wave 1 shown in bracketed black lettered 1.
There was 50 percent pull back of this wave in wave 2
which ended in marvh 23.that I have lebelled as bracketed black
lettered wave 2.
from march 23 another up move started.
and it has completed five wave,in which 3 rd wave is extended in sept23.
I have market as larger letter 1 in black and its pull back is now in progress.
still the braketted 3 in black colour pending,
this up move from march 23 to sept 23 can't be bracketed 3 as in that case
it will be shorter than bracketed 1 which was completed in dec 22.
Bull market in indian stock market is still on.
the present pull back has already retraced 23.6 percent.
we may discuss in hourly chart what is happening in shorter time frame.
if this post helps you then please like it.
Follow me to get up dates.

注释

the bounce of recent decline was not even 61.8 percent.As such it should come down to 4 th wave position.But difficult to tell before.we have to see how it unfolds
tomorrow.

注释

nearing arrow.4 th wave position.

注释