Nifty 50 Update

Nifty 50 Update. As on Thursday 18 March 2021. CMP 15,574.  Posted at 3:30 pm.

Huge bearish day.  400 points down from high to low.

The silver lining .. under the alternate count, a low is likely in place, and price should be headed sideways to up in the coming weeks.  The Primary count shows more lows to come.

Primary count : Price is still in wave D down of an expanding triangle, that should carry to the 14,200 ~ 14,350 level.


Alternate count : Price has completed wave C of a bullish triangle and should commence it's upward journey without violating 14,468.

How will we know whether this count is playing out ? An impulsive 5 wave up on the smaller time frames, and / or an upside breach of 14,746 would likely mean the decline is finished.