Nifty Crashed by 400 point, Is the Top formed?

Nifty crashed post HDFC Bank results had Gap down opening below 22000 levels, Is it time to buy or sell?

Nifty anticipated up move till 22118 as per Neo wave Diametric pattern.

Nifty hourly chart anticipated on 28^th December 2023

Nifty hourly chart:

As shown on above chart prices have moved precisely as expected in form of Diametric pattern and completed wave g higher.

Two stage confirmation technique – is concept as per Neo wave that helps to identify major and minor reversals trade setup.

Post achieving the target of 22118 there is a sharp decline that has taken away the last rising segment in faster time thereby confirming that a bigger degree top might have formed and we might be entering into sell on rise from buy on dips over short term.

Over short term prices can head towards the level of 38.2% Fibonacci retracement as long as 22000 remains intact. The support as per Fibonacci is near 20873.

In a nutshell, it is time for Bulls to embrace the sell off and bears might be coming out of hibernation. Weekly and daily trend both has turned negative and move below 21490 will open targets for 20873 on downside.

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