Nifty took a bounce yesterday very close to the bottom predicted. Now, this bounce is taken as wave 1, and if true, this will be the start of the resumption of the ongoing bull run.
However around 19700 or so, expect a good correction into wave 2 of the ONGOING IMPULSE WAVE.
WHAT IF WE FALL BELOW 19470 TODAY, OR THE WHOLE BOUNCE IS SOLD INTO.
Even if this happens, it is just an expanded triangle, and we will resume the bull run thereafter.
WHAT ABOVE MEANS
The bull run has probably resumed. Today being clearing day, we can have volatility. Whatever the market does today, yesterday’s rise confirms the bullish wave count.
NIFTY Opening On 10th Aug 2023