We have already analyzed the 4th wave of the correction on NSE NIFTY. At that moment, our estimation for the correction was 23,893. According to the outlook, the price has completed wave ((3)) and has begun forming wave ((4)), which has declined by over 11%.
Visit here: NSE NIFTY – Elliott Wave Outlook
In my previous article, I had noted that Wave B completed at 25,212, marking the start of Wave C’s decline, with 24,500 emerging as strong resistance. I mentioned that holding above 24,500 (wave iv) was crucial for a bullish reversal, with a breakout potentially shifting momentum toward a full 100% retracement to 25,212. The price failed to confirm the bullish momentum and ended up extending the correction.
Visit here: NSE NIFTY – Elliott Wave Perspective
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