Nifty has accomplished an impulsive wave (3) and started forming a corrective structure. Most analysts are giving signals for new price extremes, but is it that easy?
After trying to beak the corrective structure four times, the Nifty lost its bullish momentum. Sellers still find that high price as a brilliant entry. Bulls are unable to outnumber sellers.
If nifty breaks down the lower trend line of the corrective wave (4), Traders can sell for the following targets:
+. No trade is possible before breakdown. Failure will lead to a bullish move.
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