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Nifty50 Stock Price Analysis for 17th November 2023

Updated: Nov 20, 2023

Nifty50 has reached internal wave 3 that I mentioned in previous blog post, we were looking at target of 19750 levels, and today it touched a total of 19870 levels.

Nifty wave 3 internal high points

This entire range was easy if you were on 1H time frame. Sometimes choosing right time frame matters. Ideally for wave 3 and wave 5, being on higher time frame helps to reach the end of the cycle. On smaller time frames there were some pull backs, and was getting trickier. What happened in the end, was a pull back of wave 4, which probably ended and there is more scope for this cycle till top of blue box mentioned in the chart for next week expiry. Each day we learn here at So for now, we will still aim higher till this entire 5 waves (ORANGE) is finished.

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