Nifty Bow and Tie Diametric formation

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 Nifty Daily Chart


Nifty is moving in a bow and tie diametric formation in a correcting manner and it seems that Diametric is still under formation and wave f is still under motion which can push prices higher towards 22890 -23050 price zone.

After completing this wave f, wave g in the opposite direction will start and will break below its previous swing low of 21997 and will make a new low.

The bias is sell on rallies for Nifty near to 23000 levels and can expect the index to forma bottom near to 21500 levels or near to it.

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