I had mentioned yesterday a distinct possibility of an X wave forming. “X” waves as mentioned earlier are “interrupters” of a larger progression in the opposite direction. Larger the size of the X wave (or larger the interruption, more chances of the final correction ending “Near” the ending of the progression.(or the last bottom).
This , in any case is pointing towards the markets being in a bull market. Cycle wave V is progressing (will give the full cycle wave structure in the coming weekend.).
NIFTY Opening On 23rd May 2023