Nifty Metal Index: Anticipated Happened and Elliott Wave Forecasting

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 Nifty Metal Index daily chart anticipated on 20th March 2022


Nifty Metal Index daily chart happened on 29th March 2022


In my previous update I had mentioned for Nifty Metal Index that, "Nifty Metal Index is positively poised and can move towards 6570-6750 levels over short term."

The index moved well above my first resistance of 6570 and made a high of 6620 levels thereby achieving my mentioned level - Anticipated Happened

To view my previous update on Nifty Metal Index, click on the below mentioned link

https://www.marketanalysiswithmeghmody.com/2022/03/nifty-metal-index-elliott-wave-anlysis.html

As per Elliott Wave Analysis, prices are probably moving in wave iii or in wave iv which still opens wave v higher to complete wave c, once it is over prices will reverse back down. The level on the higher side can be 6750-6780 levels, but it will dip first somewhere close to 6330.

The summation is Nifty Metal Index will dip close to 6330 levels and then will resume the major trend, eventually facing the resistance of 6750-6780 levels.

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