Indice Nifty 50Short
Nifty a fall seems likely
In my last post I made a forecast that the 8440 (Final Target) mark should be achieved by Nifty for the completion of Wave B and as you might have noticed, Nifty not only achieved the target level of 8440 it never gave a close above the 8440 mark.
As of now I will still hold my previous view and as per the prevailing count the last Wave C is still to unfold which should see the minimum downward movement uptill 7680.
Short positions can be created with taking a stoploss above the 8440 region, the Risk to Reward is strongly in the traders favour and I believe that the trade is worth taking.
In the bigger picture Nifty still looks to be in a Triple Zig Zag formation.
I will update the view if need arises in a later post.
As of now I will still hold my previous view and as per the prevailing count the last Wave C is still to unfold which should see the minimum downward movement uptill 7680.
Short positions can be created with taking a stoploss above the 8440 region, the Risk to Reward is strongly in the traders favour and I believe that the trade is worth taking.
In the bigger picture Nifty still looks to be in a Triple Zig Zag formation.
I will update the view if need arises in a later post.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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