You are currently viewing NIFTY Opening On 26th April 2023
NIFTY Opening On 26th April 2023

Nifty – I have marked as wave “x” the last upswing, as giving an indication of a double (triple zigzag?)
In case it is we should correct as above and THEN resume our bull run again.

When the zigzag correction occurs as the X wave within a double or triple zigzag correction, it typically displays the following characteristics:

1. X wave is always a corrective wave that occurs between two corrective waves (W and Y) in a double or triple zigzag correction.

2. X wave is always smaller in magnitude than wave W and has a lower degree of trend.

3. X wave typically retraces 50-78.6% of wave W.

4. X wave usually takes the shape of a three-wave pattern, such as a zigzag or a flat.

5. X wave can be more complex and can take on other corrective patterns, such as a triangle or a double three.

6. X wave usually shows a sharp and swift movement in the opposite direction of wave W.