Yesterday’s free fall was predicted one month on Beeline’s post. Those who have missed, don’t worry. Please find the next move on Nifty..
As discussed in our previous report i.e on March 2015, that Nifty forming an ABC corrective and currently its close to complete its double zig zag wave.
We assume Nifty might complete its B of W near 8200-8250 levels and post that correction is possible till 7636-7680 levels ( which is A=C minimum and 38.2% of the primary 1-5 wave)
Revised EW ( August 2105)
We were successfully predicting Nifty since it was at 9000 levels .
Currently, Nifty is forming double corrective waves ( W-X-Y). We assume this fall might remain continue till 7680 which is 4th corrective wave of one lesser degree and below this next move till 7430-7470 levels.
As in the next slide, you will see why we are supper bullish in the market. Yes, EW does work
Nishant Bali, CMT