Nifty 50 IndexShort
NIFTY downside targets
If we count a single leg for NIFTY, (recent move), we can see Flat Correction.
Wave B is returning from the golden ratio of 61.8%
We will use the Fib extension to find the target of wave C. We can see that the minimum target of 61.8% has already been crossed. Price now moving for the Rule of equality i.e. 100%.
But we can see several Fib clusters near the price range of 23667.40 and 23621.35
So we can expect wave C up to these zones.
This analysis is done using Elliott Wave theory and Fibonacci.
This analysis is for educational purposes only.
Wave B is returning from the golden ratio of 61.8%
We will use the Fib extension to find the target of wave C. We can see that the minimum target of 61.8% has already been crossed. Price now moving for the Rule of equality i.e. 100%.
But we can see several Fib clusters near the price range of 23667.40 and 23621.35
So we can expect wave C up to these zones.
This analysis is done using Elliott Wave theory and Fibonacci.
This analysis is for educational purposes only.
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