Correction is started(or maybe its done) in Nifty for the rise from 9688 - 10252. This raise can be considered as wave 1(in next higher level).
23.6%(10121) retracement is already done so one possibility is to move up higher for all time high. Another possibility, more fall is pending and nifty may goes till 38.2%(10039). If it breaks 10120, possibly it will fill the gap and below that 38.2% is the target. This fall can be considered as wave 2.
If Nifty bounce from current level(10125) and break 10238, it could be a start of wave 3.
But to me it looks like sell on rise (till 10238 is protected on closing basis) and then 3rd wave will start (maybe be from 38.2-61.8% , fall up to 9900 is another possibility )
Can enter short below 10175(considering bounce is 4th wave from current level of corrective wave 'c'). 10176-10238 no trading zone. If nifty moves up but fail to cross 10238 on closing basis, short can be initiated.
23.6%(10121) retracement is already done so one possibility is to move up higher for all time high. Another possibility, more fall is pending and nifty may goes till 38.2%(10039). If it breaks 10120, possibly it will fill the gap and below that 38.2% is the target. This fall can be considered as wave 2.
If Nifty bounce from current level(10125) and break 10238, it could be a start of wave 3.
But to me it looks like sell on rise (till 10238 is protected on closing basis) and then 3rd wave will start (maybe be from 38.2-61.8% , fall up to 9900 is another possibility )
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