NIFTY REVERSAL SETUP

Nifty completed its ''B'' wave up in 3 wave ABC as a reaction to the corona fall(wave''A''of 4 th wave).
In ABC, C wave extended more than A , hence chances of extending up to 1.618 times of A.
Mean while a correction is required for NIFTY to test its capacity (profit booking).
A WEEKLY engulfing pattern shows that a follow through correction is evident.
MY price action diagram shows the expeced move of NIFTY during next week till 3 rd of MARCH ,2021
Trading both long and short positions with a minimum stop loss near demand and supply zone is the ART of PRICE ACTION trading. DO not follow any indiacators,oscilators, moving averages,macd,rsi forget all nonsense
Follow Elliot wave theory for long term market cycles



b.selvam be,mba
full time trader