Nifty: Anticipated Happened

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 Nifty daily chart anticipated on 10th June 2022


Nifty hourly chart happened on 16th June 2022


I had mentioned that the index is wean and can falter going ahead. In my previous article I stated, "Nifty can falter towards 15450-15350 range over short to medium term."

The index plunged and made a low of 15350 levels thereby achieving my above mentioned level- Anticipated Happened.

To view my previous article on Nifty, click on the below link

https://www.marketanalysiswithmeghmody.com/2022/06/nifty-and-road-ahead-with-elliott-wave.html

As per Elliott Wave, prices have completed wave a of second correction and can move higher in the form of wave b of second correction post wave x. Corporate results is set to release in the month of July and so there are high chances for index to pull back.

The summation is Nifty is all set to give a pullback which can only be possible above 15850 levels, leading it till 16200-16800 levels over medium term.



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