Friday's red candle engulfed the entire inner channel and closed near low. Also Nifty could not close above risk buy level and is in ST down mode. But it is again in risk buy above 14938. So now on Monday Nifty has to close above 14938 and Friday's close is 15030. Support on the green line in at 14978 on Monday. So this is a very crucial level and Nifty has to close above this to be in the channel. Then it may try to go towards redline. Otherwise as stated by wave count Nifty next target is 14414 and 11661. The long-term sell turning price is 14371.90. But once LT sell signal is triggered when the above figures are quite possible.
This is the latest wave count as per wave basis software. It is also saying that Nifty will go down. But it may change on Monday also. So let us see on Monday.
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