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Nifty PSE Index

30 Aug 2021 ‚óŹ 12:41 PM

The nifty PSE index has retraced 38.2% of wave 2 of wave 3. In doing so it is also ended up holding the 20 week moving average, which was important support that also held at the bottom of wave 2 in the month of April. We are therefore starting wave 3 of 3 which should be a significantly important move higher and should bring about greater discovery for public-sector stocks. The index itself should move towards 4400 based on the fractal map below, from the current level of 3622.

Technical Analysis on Nifty PSE Index | Indiacharts

Alternate count to the PSE sector index could be something like this. Here wave 3 is already extending and the next extension for wave 5 of 3 to complete is near 4614 [161.8% of 1]

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