Nifty Breakdown level 6176 below 6126 its 6020 - 5920 and there it
Decides 5615 now or later..
Correction in Nifty before completing the 6626 course hints it might have entered into expansion phase or lets term it as Broader trading Range 5600 - 7600.
Once World markets slip into a much awaited correction - Nifty may hoodwink the tape in between, Find support @ 5615 & bounces back sharply.
Another High Probable scenario is If SPX Respects the current Resistance © 1846 & correct till 1718 before completing 1918 - Then Nifty may find support @ 6020 - 5920 & reverse to fill 6626 while SP500 Fills 1918.
If the markets follow the above pattern - then SPX Correction is from 1918 to 1318 however nifty may not accompany till the end rather change its course of Direction Finding Support @ 5615 & heads back to complete the established course 7600.
S&P 500 If tests 1646 or 1618 before 1918 - Nifty to fill 5615 before 6626.. And later start’s its journey towards the north - Though SPX is most likely to drop from 1918 @ that point of time Nifty may continue its upward Journey irrespective of US - EUROPE breadth.
Now @ 6215
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