Its obvious Nasdaq is Bullish on HTF i.e long term and given good handsome return also. At te same time in Bullish Index or Stocks short term corrections are sharp as well nasty also to elimnate weak hand from position. Here it likely to resume a strongest upside leg (wave5 inside a wave3 of HTF) before a time consuming downside leg wave4. Marked in red color...
Stock was in correction from Oct 2021. There was time consuming triangle as internal "X" and recently Y ended with down impulsive nature. All marking are done on chart. Triangle -> Thrust -> Tumble Here after downside Thrust on completion, so higher probability of Tumble which may result as upside move.
Price chart read from 2022 High to recent low. All depiction marked as per #ElliottWave, #Supplu-Demand & #Liquidity concept. Price action of 1-2 week will be clear indication of which way its going to unfold. More Bullish if closing above given level or its going to form a important top.
Elliott Wave Diagonal pattern. Nifty on completion of single leg of a longer Diagonal pttern on weekly TF. Expected move within this pattern to complete and move after its competion. Analysis included Time correction also.
Long set up in ongoing corrective leg (Hopefully Triangle in play) and this leg is part of incomplete "D" or "E", could be clear in further price action.
A detail EW counting on RELIANCE, how correction done and now clearly in an Impulse Phase (however 2643.70 need to be touched for confirmation). Upcoming moves are going to be in bullish nature only.
Wave1 of 5th leg completed, will see retracement / pullback to form Wave2
Supply diminishing from buying at lower support line. See encircle wicks. Trade as per own RR.
NSE:CNXREALTY ON MAJOR TIME FRAME SECTOR DEMAND IS IN CONTROL, SO LONG IS ONLY OPTION.