Nifty 50 analysis for 18 Aug

The correction that happened on 14 Aug, appears to be an ABC correction ... Nifty opened gap up today and was in corrective phase till about 2.15 pm .. wave c of the corrective pattern was an ending diagonal followed by an impulse of almost 64 points ... Nifty appears to have taken support at the vital zone of 11240-11250 level .. It also managed to close above 20 SMA ... My view on Nifty for tomorrow is bullish with key resistance at the levels of 11340-11355 ... Views expressed are personal and purely for educational purposes and not to be used for trading