As shown in figure , nifty lies here in wave 'B' which is corrective phase of wave ' A', so it must be around 60~70% max.
the structure of wave B looks like an ending diagonal.
once its been over we can see a continuation of wave 'C', As any impulse can not be stand alone,so there is high probability of wave C.Here high chances that price spent some time, over there around end of wave B,price may also shoot out (to pretend like breakout) , here because it will be penultimate wave.
Above Set up will fail if price crosses and stay above the supply zone plotted.
maintain strict stop loss over there.
the structure of wave B looks like an ending diagonal.
once its been over we can see a continuation of wave 'C', As any impulse can not be stand alone,so there is high probability of wave C.Here high chances that price spent some time, over there around end of wave B,price may also shoot out (to pretend like breakout) , here because it will be penultimate wave.
Above Set up will fail if price crosses and stay above the supply zone plotted.
maintain strict stop loss over there.
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