Nifty ABC Correction, upcoming bear move
Nifty completed A Wave and has already given a retracement of 50%. It is near the next selling zone around 24800-25100. The bounce seems to be wave B, MACD line touched 0 line.
With heavyweights like RIL, ITC looking weak on weekly timeframe. View invalidated above 25150.
Target for wave C looks around 22000 with trend-based fib extension tool and considering wave C to be equal to the target of '1'. Expecting nifty to be bearish for Jan-Feb 25.
With heavyweights like RIL, ITC looking weak on weekly timeframe. View invalidated above 25150.
Target for wave C looks around 22000 with trend-based fib extension tool and considering wave C to be equal to the target of '1'. Expecting nifty to be bearish for Jan-Feb 25.
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