Today's Nifty close is very important. Monthly close is Bullish Doji But Quaterly close is Bad. We have 2 major counts on weekly chart. If 1st chart is correct then Nifty is bottomed & target New High ( Almost 10,000) but confirm only if close above 8500. If 2nd chart is correct then Bottom is due & expected at 7119 or 6666 then New Bull Run.
Nifty breach weekly channel on Monday but recover & close above 7620 (Channel Support). Now 50% retracement done of wave 3 & Nifty hold 7526 level... this was unexpected. But reversal may continue till minimum expected pullback level 8330. No change in weekly elliott wave counts yet. In other case... below 7526, we may another see major selling.
Nifty above very crucial level 7620 again. If it hold then we can expect uptrend for New High as per weekly Elliott Wave counts.
