Nifty 50 Forecast by NEoWave

On the 2H timeframe, the recent price correction appears to be a diametric one. When a Diametric Zigzag forms, it usually forms a combination pattern, so we consider 2 scenarios:

Scenario 1

Diametric wave-(g) ends in the range of 21050 – 21473 or even higher and the upward movement begins


Scenario 2

a- Wave-(g) continues to the range of 21050 – 21473 and then, in order to complete the time correction, a combination pattern of Diametric – X – Triangle is formed on the support range.


b- Wave-(g) continues to the range of 21050 – 21473 and then a small X wave is formed, but the price crosses the support range of 21050 – 21473, in this case, the combination pattern will still form, but the price can decrease to 19993 or the price range of 18993-18744 according to the second pattern.

The second scenario is more likely to form.