Nifty Analysis for 27 Oct 2020

Waves have been marked on chart for assimilation.. Presently, the correction of first impulsive downward wave of 15 Oct is going on .. it appears to be a flat/ extended flat correction.. wave (a) of this correction appears to be over n wave (b) is in progress.. it appears that minor degree wave a of (b) completed yesterday .. expecting it’s wave b to unfold n test resistance zone of 11820-11840 as marked on chart .. from there wave c should commence .. if it is a flat correction, wave c should take support at 11680-11660 levels.. however if it unfolds as an extended flat, expect wave c to test 11600 levels (+/- 20)

Note - views expressed are personal n for educational purposes only