Elliott Wave Analysis: Nifty’s Final Corrective Leg Unfolding

On October 31, I predicted that Nifty would enter a bearish phase based on my Elliott Wave Zigzag analysis. So far, the market has followed this pattern.

Currently, Nifty is in the final leg of its corrective phase. After reaching the 22,500–22,300 range, I expect it to complete its 5th corrective wave. The structure has played out in three key phases:

First Zigzag Pattern: Waves (i), (ii), (iii), (iv), (v)
ABC Correction Phase: A, B, C
Final Zigzag Pattern: Waves (i), (ii), (iii), (iv), (v)
As per my analysis, Wave (V) is close to completion, but some time correction is still pending, while the price movement has mostly aligned with expectations. Keep an eye on market signals for confirmation!