Potential Wave B Completion in Wave 4 Correction
Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold.
Key Levels to Watch:
Resistance Zone: 25,600–25,700
Potential Scenario:
Currently, Nifty appears to be in Wave B of an ongoing Wave 4 correction in the Elliott Wave structure. The price action suggests the possibility of filling the gap around the 81.2% retracement level, following which a decline in the form of Wave C might unfold.
Key Levels to Watch:
Resistance Zone: 25,600–25,700
- This level could act as a key resistance, capping the upward move of Wave B.
- Support Zone: 22,700–22,800
- On the downside, this area may provide significant support and serve as the target for Wave C.
Potential Scenario:
- Wave B could complete after testing the resistance zone, forming a bearish reversal.
- If the gap fill around the 81.2% Fibonacci retracement occurs, it might signal the transition into Wave C.
- Wave C could drive prices lower toward the support zone, completing the corrective structure.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.