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Analysis of Nifty for 19/03/2024


Today's Nifty movement was not so strong as far as the W pattern is concerned. So W pattern is not yet completed. Now either the W pattern is weak and may be completed tomorrow or the W pattern can fail. Also, the 5 DMA average is about to cross 34 DMA downwards, which is a sign of a sale as per Dow Theory. If tomorrow Nifty closes in green, then the W pattern will be complete and the next probable target is 22335. Otherwise Nifty may go down to continue downward correction wave 4 of 3 of 1 of 5.


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Nitin Shripad Joshi

Vedant Margdarshak

9922081120

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