Nifty 50 Analysis

Nifty 50 Analysis. As on Monday, 22 March 2021. CMP 14,700. Posted at 10:50 am.

The expanding triangle has worked out well.  So far, so good.  From previous post of Friday morning "We suspect this morning's low of 14,350 could have completed wave D of the expanding triangle. "

Under this count, a new high above 15,300 is more likely before a breach of 14,350.

In the near term, price should continue to move sideways to upwards in wave E to above 15,300 before a decent correction to the 14,000 level or below.

Below is the projected path.