Price has completed a five-wave corrective structure at 495.
The corrective waves consist of three waves wherein B is a corrective, and A & C are the impulsive waves of corrective structure.
Wave B has broken down the ending point of wave A, which suggests that wave C has started.
Measurement for Wave C:
Wave C can accomplish 61.8% of impulsive structure at 344.
Wave C can finish at 100% of wave A at 320.
Wave C can complete at the lower band of the corrective channel.
Traders can trade for the following targets: 360 – 356 – 342+
Head and shoulders pattern:
Right shoulder has broken down the neckline of the head and shoulders.
Head and shoulders also suggest a bearish atmosphere.
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
LockGet free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
very informative.
Very informative for novice traders. Keep it on with such key advices.
Great catch
good setup thanks for the share
i applied your study on multiple charts. must say
it’s impressive, but it’s for experience eyes..
appreciate the effort 👌
Thanks for this 👍 stay blessed
thank you for your valuable posts to us and wave count.
How far the Nifty can go down. ?When should we start buying stocks ?
Your prediction about the stock market Index are always/ almost correct. This continuous fall down in Share Market has broken the backbone of small investors.
Pls guide them to enable them to recover their heavy losses. THANKS