The bounce in Nifty currently seems to be in 3 waves.
If 17428.05 marked the completion of wave 3 and 17207.25 is taken out before making another move up (i.e. above 17428.05), then it would suggest that nifty will see more downside in the coming weeks/ months.
If 17428.05 marked the completion of wave 3 and 17207.25 is taken out before making another move up (i.e. above 17428.05), then it would suggest that nifty will see more downside in the coming weeks/ months.