NIFTY Opening On 7th Dec 2023
PLEASE READ THE DISCLAIMER IN FOOTNOTE
Elliot Wave Analysis is subjective- Different interpretations can be done with the same long term chart . However, short term analysis is more easier to deduce than VERY LONG TERM. This will expand further in my article over the coming weekend.
In the 1st chart I have given the long term DEVELOPING Scenario. According to this, we have the beginning of a massive bull run. Such bullish counts MUST ALWAYS be reconfirmed by developing present short term counts. However within this bull run, a relatively large correction is expected. This correction should IN ALL PROBABILITY come WITHIN the next 2-3 days.
For today, in all probability, markets should rise as the last leg “E” of the developing expanded triangle, shown in the 2nd chart.