Intraday & Short-term outlook of Nifty 50
Nifty has completed motive wave (iii) at 17792.
Wave (iv) is forming and, it can have a common retracement of 38.2%.
The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169
According to the rule of corrective wave, it remains under the channel.
And the impulsive wave can break out the parallel channel.
If nifty breaks the parallel channel, check out the previous update below.
The long-term outlook of Nifty:
EWT: Will nifty hit 18000 before September end?
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