Nifty correction may come down to 11485 level as we are expecting wave 5 of wave as our main count which is in progress and going intact. This inner wave 3 is less than 1.618 time of wave 1 and considered as non extended wave , Hence we can expect wave 5 to be extended to 12750 approx.:
w1=10985-10004=981 so 161.8% of 981=1587
Hence w3 could have reached up to 10585+1587=12172. But reached only 12041.
Also w1+w3=2037 and 61.8% of 2037 is 1259 since expected move for wave5
=11485+1259=12743 varied based on correction level.
My last post assuming a second Hypothetical view, based on the unexpected down move of the inner leg 4, was about a possible ED didn’t work out.
w1=10985-10004=981 so 161.8% of 981=1587
Hence w3 could have reached up to 10585+1587=12172. But reached only 12041.
Also w1+w3=2037 and 61.8% of 2037 is 1259 since expected move for wave5
=11485+1259=12743 varied based on correction level.
My last post assuming a second Hypothetical view, based on the unexpected down move of the inner leg 4, was about a possible ED didn’t work out.