Another scenario slightly different from my previous update is another option that I see should be possible.
As said earlier, the correction from 5181(oct21) appears to be a flat A-B-C correction.
Wave A = 5181-4538(10days)
Wave B = 4538- 5079...(11 days till today!)
Wave C = To begin
1. Wave B can go upto 5150 and close ~ 5100 on Friday, Nov20.
2.Nov23- Dec4 should see Nifty correcting to around 4400-4500 levels.
3.Dec7-Dec31 , Nifty rising towards 5500.
So we could have either 2(down)-3(up)-2(down) OR 2(down)-2(up)-2(down) as A-B-C correction on weekly basis.
kaps
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