Elliott Wave Analysis Report of Nifty for 11 Dec 2015
Nifty opened gap up today at 7643 and declined till 7610 but bounced again from lower levels to register day’s high of 7691 before closing 70 points up at 7683.
Yesterday I mentioned that downside is limited and we need to see a bounce very soon before any further fall and minimum bounce should be 23%-38% of decline from 7979-7606, means we can expect a bounce of 90-140 points from lows. Nifty bounced 85 points from lows without falling further. Let’s have a look at fresh charts.
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