Timeframe: 4h
NSE NIFTY has made a high of 18887.6 and started collapsing. From 18345.7, the price rise to find more supply and continue the downward movement. 18696 was the selling point in the ABC correction denoted as B. Nifty has broken through the base channel and started forming a correction channel.
Prices have accomplished wave b and began impulsive wave C of the correction structure. The selling pressure has closed the candle below the low of wave C. Prices are moving toward support levels.
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