In the previous article, NIFTY was earlier expected to bounce as it was holding above a strong demand zone formed by multiple wave lows. This zone was seen as a key support where buyers could step in and push the market higher. A clear break below it was warned to turn the trend bearish and lead to further downside toward 25,740.
On 11 December, the price made a new low at 25,693.25 and then started moving upward, indicating buying interest emerging from lower levels.
Click here: NSE NIFTY – Elliott Wave Outlook For 9 December 2025
The price has accomplished wave (C) at 25,693.25 near the previous wave (4) zone, which is the good end as per the guideline. The bullish setup is valid with no rule violations. A breakout of the parallel channel can take the price to the following levels: 26,200 – 26,310 – 26,450+.
After a failed breakout from the parallel channel, traders should be prepared for the price to move near the given demand zone (1 & 2).
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