NIFTY briefly went below 25000 points but could not consolidate so a possible scenario is that X- wave is forming, triangle - X - triangle and then the upward movement starts.
Alternative scenario
If the end of wave-c of the reverse triangle breaks (red horizontal line), NIFTY could decline to the specified range.
Good luck
NEoWave Chart
Alternative scenario
If the end of wave-c of the reverse triangle breaks (red horizontal line), NIFTY could decline to the specified range.
Good luck
NEoWave Chart
Nota
Wave-e of the reverse contracting triangle is the end of the c-wave (the red horizontal line) and it seems that the alternative scenario is happeningI think that maybe the second pattern is turning into a diametric one. It seems logical to me.
According to what I said earlier, the downtrend that started on June 27, 2025, no longer has the criteria of an X-wave because it is much larger in time and price than the previous X-wave that formed on May 2, 2025 to May 9, 2025, and they are not proportional to each other. As a result, the downtrend can continue to the specified range.
If the resistance at 25,255 points is broken with strength to the upside, the scenario will be violated.
Good luck
NEoWave Chart
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.