Saturday, April 7, 2018

EOD Analysis Nifty Spot as on 6-4-2018

 In the chart, the first correction was a truncated ZZ and after an x-wave 2nd corrective is now ongoing. The second leg of correction is happening as a Flat or triangle or it may even be diametric. The a-leg of the second corrective was 8 days and yesterday we probably have ended the b-leg of correction in 8 days (Confirmation needed!).  In 1-2 weeks time, the final bottom should be made for this round of correction.  During this round of correction if 10182 for Nifty Spot and 24356 is held for Banknifty Spot then b-leg of second corrective will continue to move up again.