Nifty is on 5th wave, Now we have to cases.
Case - 1st
If you see market is going down and cut the yellow trendline, It means wave 5 is completed and we will be in correction for at least end of 2022.
How the correction will happen, No one can predict that, but its clear that market will not go below 11000 (extreme bad conditions), and do the time wise correction.
Case - 2nd
Market do not cut the yellow trendline and do the time wise and range bound correction till 8-Sep. Then 5th wave will be in 5 parts, and 1st part is completed.
Case - 1st
If you see market is going down and cut the yellow trendline, It means wave 5 is completed and we will be in correction for at least end of 2022.
How the correction will happen, No one can predict that, but its clear that market will not go below 11000 (extreme bad conditions), and do the time wise correction.
Case - 2nd
Market do not cut the yellow trendline and do the time wise and range bound correction till 8-Sep. Then 5th wave will be in 5 parts, and 1st part is completed.
Comment:
Currently we are in Case - 2nd.
Comment:
The chances are very high that this 5th wave be between 18700-19200. If it extends then we will see it at arround 20000.