Can Elliot correction waves take Nifty to 16000? After completion of 5 impulse waves from 7500 to 18600, the correction wave A went to 16400 followed by B to 18200 (may go up to 18600 levels) A massive C wave fall equal to or greater than the A wave is likely to ensue.
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Gave this idea when nifty was ultra bullish at 18300.
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