It seems Nifty is playing “Combination Complex
Correction” (abc-x-abc). Present setup doesn’t looks like A as “Leading
Diagonal”. The previous day’s move looks same as “abc” and today’s upside move
as link wave “x” followed and wave “a” and “b” of next set.
If the counts are correct then Nifty can decline near
8020-8010 to complete next “c”. The levels are placed by calculating 123-138%
of “a” followed by next up move for new high and we may not see much lower
levels below 8000.
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