Nifty 50 analysis for 11 Sep

The entire rally from 10880 to 11794 was an impulse ... Since then Nifty touched the low of 11188 ... As marked on the chart, the entire correction appears to be an impulse of the same degree as the preceding motive wave and in the opposite direction .. An impulse followed by an impulse in opposite direction is bearish signal ... So I'm expecting a correction to this downward movement and the same commenced today .... We had a good upward movement, courtesy RIL ... Expecting wave b to unfold in opposite direction starting tomorrow .. Key support levels have been marked on chart .. Be cautious while taking long positions

Note - Views expressed are purely personal and solely intended for educational purposes. Same may not be used for trading instruments