I have tried my hands on nifty, past pattern formed and its possible movement in upcoming days.
Considering 4 HTF, simple correction (ABC) has been completed at 15669 and now from here nifty has started it's journey towards its next phase i.e. bullish (next impulse) or in further complex correction..
Here, it looks like nifty could correct further till 38% of FIB levels..
counting might get changed, considering it's behavior at the time of rejection at mentioned FIB levels.
currently I am expecting the pattern to look like (a-b-c) (A) X- B (we are here) (1-2-3-4-5) C.
Considering 4 HTF, simple correction (ABC) has been completed at 15669 and now from here nifty has started it's journey towards its next phase i.e. bullish (next impulse) or in further complex correction..
Here, it looks like nifty could correct further till 38% of FIB levels..
counting might get changed, considering it's behavior at the time of rejection at mentioned FIB levels.
currently I am expecting the pattern to look like (a-b-c) (A) X- B (we are here) (1-2-3-4-5) C.