NIFTY 50-Correction yet to start!
1.As per the Elliott wave,at the current level 11770 wave 5 formation going on!.
2.Likely target for wave 5 completion will be 50/61.8/78.6 % retrace of wave 3 i.e around 13000(chart attached)
3.Currently sub wave (2) of wave 5 is happening so we might see some correction in near future before sub wave 3 starts.
4.Once the wave 5 completed we could see a start of correction wave A,B and C(Be cautious during this short term correction)
5.And once this short term correction completed then we could see a major up move of wave 3 in this bull market!.
6.Overall,in short term be cautious during correction & in long term be ready for bullish wave 3.
DISCLAIMER : Views are for Educational purpose only & do your own analysis.
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