Nifty needs to recoup losses from above the 9850-57 level in order to continue the upward march immediately. Below may be the top alternate count for Nifty in case it fails to do so:
Market’s recent move have been tough to analyze. This usually happens when the patterns are incomplete and evolving. The only option in such scenarios is to wait for clarity to emerge.
Important support levels are at 9850-58/ 9784. A break of 9784 will be important for a move towards 9600 for even the alternate bearish count presented here. This is because it is possible that a double zig-zag may still evolve into a triple zig-zag.
Important resistance levels at 9947 & 9983.
