Nifty made top on Election Results day. i.e, 23rd May, 2019.
On The Elliott Wave Principle perspective, bounce from 10000 level 12041 consists 5 inner waves. That is 5 th wave of major wave 3. In that case, we likeky to see wave 4 down shall begin any time from here. Upside capped between 12100-12200 few points fluctuation likely due to volatility.
First sign of weakness comes once nifty breaks and trade below 11860 spot levels.
Regards,
Suryadev Bandari
Research Analyst
Sent from my iPhone
On The Elliott Wave Principle perspective, bounce from 10000 level 12041 consists 5 inner waves. That is 5 th wave of major wave 3. In that case, we likeky to see wave 4 down shall begin any time from here. Upside capped between 12100-12200 few points fluctuation likely due to volatility.
First sign of weakness comes once nifty breaks and trade below 11860 spot levels.
Regards,
Suryadev Bandari
Research Analyst
Sent from my iPhone
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