Nifty 50 Update

Nifty 50 Update. As on Wed 24 March 2021. CMP 14,630. Posted at 11:15 am.

An alternate count is being added.  This is equally plausible.  The short term message is the same as the primary count.  As long as 14,350 is not violated, a choppy rally to above 15,000 should be the next short term move.


Primary count : Wave E of an expanding triangle in progress to above 15,330.  This would be followed by a correction to the 14,000 level roughly.

--

Alternate count : This is more in tune with Bank Nifty.  We suspect this count could change to our primary count in the coming days, but we will wait a little more to switch.  There is very little to differentiate the 2 counts.  The above is an expanding triangle in wave (b), while this is a contracting triangle at the same wave (b) position.  One of the differences is this count requires more time to complete the triangle.