Forecasting the Movement of NIFTY50

6. Aug.

As previously mentioned, the NIFTY50 index is in the process of completing a diametric pattern. The news of the U.S. imposing tariffs on imports from India has already impacted the chart. Therefore, I believe the g-wave of the diametric will transform into a reverse contracting triangle, and the anticipated bullish correction, which I discussed earlier, will take shape in the NIFTY50.
Note:
If the U.S. imposes significantly heavier tariffs than the market expects, the g-wave may become larger.

Good luck
NEoWave Chart

8. Aug.

Anmerkung

If NIFTY50 falls below 24,328 points and consolidates, the next support level where the price could reverse upward is the range of 24,080 to 24,121 points.