Medium to Long Term Trend Outlook: Bearish

* NIFTY right now at Elliot's Correction Wave
* NIFTY may see a huge correction as per Elliot
wave
* Whenever the chart patterns looks difficult to
predict the upcoming trend Elliot wave will be
used
* Below 16300 NIFTY may turn into extreme
bearish mode
* Price crossed below 20 SMA but unable to
break above 20 SMA from below and may take
support @ 50 SMA around 16000 levels
* If price breaks 50 SMA then next target will be
13600-14000 levels by taking support @ 100
SMA
* 10 Year RSI 35 @ 59.62 (H-81.32 L-16) & RSI 14 @
53.53 (H-70.96 L-29.96)