Nifty Elliott wave Update
Currently Nifty trading pattern is like expanding triangle. Nifty wave (c) -(yellow) is continuing in zigzag pattern and currently price is in second phase of zigzag. There are maximum 3 phase in wave theory. Current price is in wave "c" of (c). Wave "c" should be equal in length of wave "a". So Price near 10320 will be Important to watch either price reverse for bigger degree down trend or take minor correction for 3rd phase of zigzag.
Any break below 9900 will indicate that wave (c) is going to finish with second phase of zigzag and next bigger degree downtrend has been started towards 9400.
At the level of 9400 then will be important for new formation of 7 leg diametric pattern or price fall sharply below 9400 to Complete larger wave [E]
Any break below 9900 will indicate that wave (c) is going to finish with second phase of zigzag and next bigger degree downtrend has been started towards 9400.
At the level of 9400 then will be important for new formation of 7 leg diametric pattern or price fall sharply below 9400 to Complete larger wave [E]
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