Nifty 50 Update

Nifty 50 Update. As on Friday, 19 March 2021. CMP 14,500. Posted at 10:10 am.

We suspect this morning's low of 14,350 could have completed wave D of the expanding triangle.  (Small new lows of course, are still possible.  This is a game of probabilities, not certainties).

Sentiment has also become adequately bearish for a substantial rebound after almost 6 days of straight and sharp losses.

Under this expanding triangle count, price should commence a sideways to upward movement to above 15,333 (wave C high).

We will of course, re-evaluate the pattern regularly.  The expanding triangle is a rare pattern to recognize in real time by it's very nature, so we still remain slightly suspicious / sceptical, but so far it has proven to be correct, so we stick with this count for now.