Nifty – In the above chart I have given the very strong possibility of a finishing triangle in the making. This has been discussed before. Within this triangle we have two possibilities, both ending in a downward spiral finally. This downward move, when it comes to be taken as a correction within the ensuing bull run.
Within the triangle we now have the 5th and final wave in the making. The final wave behaves in two distinct ways. One – it can zoom up to the top boundary and then fall . The other alternaive is to move ALONG the lower boundary and then fall. In both cases we need to consider ourselves in being in the final states of a culminating triangle.
NIFTY Opening On 8th Jan 2024