NIFTY 50 IS NIFTY 50 IN START OF CORRECTIVE CYCLE A-B-C
Monthly chart of NIFTY 50 suggest Wave is in place. Wave starting since April 2005 have seen ended at the start of January 2008, thereby correcting NIFTY 50 more than 0.618% of Wave. Since then Wave is the top of pendemic emergence in January 2020 is greater than 1.618 of Wave. Wave corrected between 0.382 to 0.50 of Wave and well above the end of Wave. Wave almost equal to greater than Wave.
Does a bearish price pattern under formation at the top indicates end of Wave here? Is this a start of corrective pattern A-B-C to complete the wave cycle ? If Yes then Wave is likely to be at 10500.00 to 11450.00 levels at 0.50 to 0.618 atleast of Wave. This is just a view. Need to keep close Watch....
Monthly chart of NIFTY 50 suggest Wave is in place. Wave starting since April 2005 have seen ended at the start of January 2008, thereby correcting NIFTY 50 more than 0.618% of Wave. Since then Wave is the top of pendemic emergence in January 2020 is greater than 1.618 of Wave. Wave corrected between 0.382 to 0.50 of Wave and well above the end of Wave. Wave almost equal to greater than Wave.
Does a bearish price pattern under formation at the top indicates end of Wave here? Is this a start of corrective pattern A-B-C to complete the wave cycle ? If Yes then Wave is likely to be at 10500.00 to 11450.00 levels at 0.50 to 0.618 atleast of Wave. This is just a view. Need to keep close Watch....