A 5 wave Diagonal with quick reaction pattern formed in NIFTY.
Reaction waves took less time in triangles, wedges.
as per previous pattern analysis there is a due for wave 'E'
this is the deciding wave at final stage after 'SMART SELL OFF' completed.
so far bullishness is intact @ 55% retracement of wave 'E'(blue dotted line).
next 2 days(3rd may'22) price action is more important for NIFTY ,and it should not breach 16830.
failing which wave 'C' will extend further to 16525
Reaction waves took less time in triangles, wedges.
as per previous pattern analysis there is a due for wave 'E'
this is the deciding wave at final stage after 'SMART SELL OFF' completed.
so far bullishness is intact @ 55% retracement of wave 'E'(blue dotted line).
next 2 days(3rd may'22) price action is more important for NIFTY ,and it should not breach 16830.
failing which wave 'C' will extend further to 16525
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i shorted yesterday,you shorted atleast today?
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wave A consumed 8 days, as per NEO wave time cycle Wave B also take the same time for recovery, 8 days over yesterday, now we have wave C down fast and furious
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