The current price action from the 11170 level seems to be within parallel lines and looks what one would refer in Elliott Wave terms as a Zig Zag type of structure.
This market did deceive us in with a Wave B as a Running Flat (Can also be interpreted as a Complex Correction) however since the Price Action is still within the channel I expect to see a bit more downside in the coming sessions.
NIfty Elliott Wave Analysis and forecast 19th March 2018 onwards
If the above posted count is the one being followed then we can expect this market to move down to the level of :
Target 1 : 9586
Target 2 : 9041 (Less likely as very bearish)
Also since we have previous support coming at 10100 level we can expect a bounce back from this level before any possible downward continuation.
If this market goes above 10420 level without registering any lows as suggested then this count will be Invalidated.
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