NIFTY long term view is BEARISH but with CAUTION!
It looks like we are in the complex correction phase and till now we have completed (WXYX_?) correction..
Leg starting from 15700 levels till 18200 level (marked as X in red) looks more of the corrective, which indicated there could be a good possibility of correction in upcoming days.
considering the current scenario, the movement which started from 18200 to 16850, here we have completed wave (3) of minor impulse, the retracement till 17500-600 is still possible.
Leg starting from 15700 levels till 18200 level (marked as X in red) looks more of the corrective, which indicated there could be a good possibility of correction in upcoming days.
considering the current scenario, the movement which started from 18200 to 16850, here we have completed wave (3) of minor impulse, the retracement till 17500-600 is still possible.