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Nifty PSE Index

12 May 2021 ‚óŹ 07:08 AM

The Nifty PSE index is on its 15th positive day. Despite that, I don't think the move is a complete minor wave iii is going on. But there could be many extensions because we are in wave 3 of 3 overall and wave 2 of 3 was a deeper retracement. So while we are close to the point where 3 = 1 is near 3690, Fibonacci extension to 161.8% would take this index towards 4166 in the coming weeks. In short public-sector stocks are likely to remain in focus for a while.

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