Nifty Intraday chart forming an intermediate 4th corrective wave. Why we strongly assume 8048-8040 is a 4th corrective wave. Because wave 2 = 4 and wave 4th took 0.618 of the wave 2 timing.
Wave 1 high is 8048 and as per the EW principle , W4 never falls under W1. If wave 4 maintained at 8040 we assume W5 would touch 8290-8360 levels ( which is W1=W4 and also 0.618 OF W3).
