#Nifty50 in a very clear CORRECTIONAL pattern since October 2021. Does not get any clearer like this!
Target: +25% higher in major Rising Wedge.
Now think: If Nifty50 is clearly about to soar - would it then be plausible, that the US indices are about to crash?

More from Niftylongterm
#Nifty hrly - Bullish scenario invalid only below 15775. Till then -
- 5.i done as LD at 16793.
- 5.ii done at 16347 and Nifty rises to 17000+
- 5.ii.a or w done at 16347, irregular correction or complex correction may play out for next 5-7 trading sessions.
Buy the dips. https://t.co/l4Iqp7patS
- 5.i done as LD at 16793.
- 5.ii done at 16347 and Nifty rises to 17000+
- 5.ii.a or w done at 16347, irregular correction or complex correction may play out for next 5-7 trading sessions.
Buy the dips. https://t.co/l4Iqp7patS

#Nifty hrly - 2.a done and 2.b should ideally be done tomorrow below the previous high.
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) June 6, 2022
With RBI MPC meeting outcome on 8th (I suppose), sets up perfectly for a 3rd wave in major 5th (considering that my counts are right). https://t.co/LXG2SCg3bY pic.twitter.com/Ya2D35VV8F
Well, alarms were sound.
₹Nifty > #Nifty
Explanation for the alarm that sounded. Textbook short term top.
Clean technicals.
₹Nifty > #Nifty
Is Nifty gunning for an ultimate double zig-zag shake out towards 17k which would coincide with weekly 20 EMA and 100 DEMA tag? Fair possibility. Only time will tell. Watch for the break of 50 DEMA and support zone.
₹Nifty > #Nifty
@piyushchaudhry
If Nifty breaks 50 DEMA and closes below 17700. 17220-17150-17000 possible. Worst case scenario is ~17000. Lot of confluence support in that range.
Do your DD.
₹Nifty > #Nifty
Nifty’s daily looks like ABC is done, but internals suggests that it still needs a final sell off to make a bottom for WXY. A bull trap towards 17735-17810 can’t be ruled out before the final sell off.
Just analysis, reserve the right to be wrong.
₹Nifty > #Nifty
₹Nifty > #Nifty
Tight Bearish divergence on Nifty Weekly. Ready to snap back to Weekly 20 EMA? Current Weekly 20 EMA at 16864. Stay Cautious!
— Krunal Thakkar (@KrunallThakkar) October 22, 2021
\u20b9Nifty > #Nifty
Explanation for the alarm that sounded. Textbook short term top.
Clean technicals.
₹Nifty > #Nifty

Is Nifty gunning for an ultimate double zig-zag shake out towards 17k which would coincide with weekly 20 EMA and 100 DEMA tag? Fair possibility. Only time will tell. Watch for the break of 50 DEMA and support zone.
₹Nifty > #Nifty
@piyushchaudhry

If Nifty breaks 50 DEMA and closes below 17700. 17220-17150-17000 possible. Worst case scenario is ~17000. Lot of confluence support in that range.
Do your DD.
₹Nifty > #Nifty

Nifty’s daily looks like ABC is done, but internals suggests that it still needs a final sell off to make a bottom for WXY. A bull trap towards 17735-17810 can’t be ruled out before the final sell off.
Just analysis, reserve the right to be wrong.
₹Nifty > #Nifty