Nifty updated View 03/03

Hey Everyone,

Nifty went past our predicted zone, it initially danced there for some time , but the continued fall on Friday telling something else is going on.

I initially thought it might be due to some sudden geo political event ( US Ukraine or more tariffs) , but after todays new low , my view changed and as per market i had to re evaluate the waves.

After seeing known possible scenarios, i came to conclusion that we are still in sub wave 3 of wave C.

(All Fib levels are shown in the chart)

Keeping it short , wave 3 , Fib 161.8% level end showing at 21973 around, some more fall might come before wave 4 starts.
Some profit bookings already started at ~22000 levels ( Fib 123% level) ( remember its still not tested and its a round psychological number, so market has to respect the level). I'm expecting one more test till 21973 level before market can start wave 4. If that level is also broken , then it can go till 200% level. Keep a track this week.

Ending diagonal theory didn't hold up since we are still in sub wave 3. Lets see if market forms it in sub wave 5 ( it doesn't have to form, i just want to see it forming :D as it started the fall with a leading diagonal ,an ending diagonal finish would be a beautiful art work )

Thanks for checking out.
Always remember, any level has to be confirmed with price action. I usually wait and see if new HL is forming, that's the confirmation we need .

Happy Trading
Cheers!!!!