Nifty' is having strong support near 10600 area.
Also expect the RSI to support near 50 level.
Wave structure is is bit confusing but still hopes that we are in wave 3,
and the IV of 3 is show as an expanding flat here.
if true we will see the 1.618% retracement show here11924 approx:
And if wave 3 is completed at 11171, then we are in an a b c correction starting from 11171.
A is completed at 9952 ( I was expecting 9920) & we are in wave b of wave 4, could be formed as a flat, since wave 4 rarely form zigzag. Means this b also will be equivalent or above 11171, depending on waht pattern it form.
Also expect the RSI to support near 50 level.
Wave structure is is bit confusing but still hopes that we are in wave 3,
and the IV of 3 is show as an expanding flat here.
if true we will see the 1.618% retracement show here11924 approx:
And if wave 3 is completed at 11171, then we are in an a b c correction starting from 11171.
A is completed at 9952 ( I was expecting 9920) & we are in wave b of wave 4, could be formed as a flat, since wave 4 rarely form zigzag. Means this b also will be equivalent or above 11171, depending on waht pattern it form.