In my last article I clarified that the bias seemed downside and I was myself holding short positions from 8550 and expecting target as 8440 which as you can check was clearly achieved with good momentum.
In this video analysis I have discussed 2 varying possibilities that can take place from here on in Nifty 50.
Possibility 1 : The correction in Nifty continues as an Triple Zig Zag
Possibility 2 : An impulsive leg upwards breaks the trend channel and upward trend resumes.
In both scenarios 8550 will serve as an important region.
Watch the complete video for more details :
Learn to trade using Elliott Wave Principles – My Video Course
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