has the market bottomed out?

has the market bottomed out? what's the road ahead.

ydays pullback was encouraging which came after a long wait, expecting it to last upto 2880.

i feel the bottoming out process is now going on, there will be retesting of 1800-2000 and nifty will get rangebound in a larger range like 2000-3350 in next few days with volatility but such moves will be tradeable, i guess it will take some 10-12 sessions within which we should have a bottom for this year in place, after which it will begin its upward journey till the onset of summer next year.

happy deepavali...

wishing a very happy diwali and a prosperous new year to all!

update on my ew...

todays intraday recovery from bottom might give some possibility for intermediate bounces, wave counts not possible to give at this point.

if todays low 2253 is held then a sizeable bounce to 2640 to 2880 cannot be ruled out.

C wave tgt was 2209(almost done near today's low) i.e., 1.618 times wave A, waves do overshoot by some amount.

there are some strong supports expected near 1800-2000 region as given in nifty monthly charts.