There are multiple ways to look at nifty and the count above is also open to interpretation. The way I'm looking at this is, it is assumed that move from nov 2018 to jul 2019 is ending something and is not really 1-2 wave structure. Now that being said we have started a correction which look quite complex. It seem Nifty is forming a massive impulse. There are many ways to look at this like WXY or ABC (3-3-5) or WXYXZ whatever is the case market will reveal itself. The 10800 mark is really very important as it the 0.618 retracement from nov 2018 to jul 2019 and market is reacted on that level to the exact tick and bouncing away from that point. So a break of that level adds bearishness only.
Komentar:
Also look at those channels and the intersection between them and the 0.786 fib in nov 2019.