In my previous post, I have mentioned that nifty can make an upward move before making the last leg. Nifty was at 16999, and it has made a high of 17400 on 31st December 2021.
Click here to read previous article.
Nifty is out of the channel and near to the previous lower high.
If nifty breaks up of 17639, we can expect a big upward move to 18210, which indicates that the correction is complete.
And if it fails to break the parallel channel, we can expect the following targets: 16909-16690-16449-16369, and the price will start wave C of wave (Z).
Please note that the downtrend is below 17639.
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