NIFTY Holds Bullish Structure Despite Wave 4 Correction
May 8, 2026

NIFTY

NIFTY 50 continues to follow a bullish five-wave impulse structure on the weekly chart. The index appears to be developing a wave 4 correction, potentially forming a bullish running triangle or a slightly deeper flat pattern before resuming higher into wave 5. Key support is seen in the 22,000–21,200 zone, keeping the broader bullish outlook intact.

NIFTY Holds Bullish Structure Despite Wave 4 Correction NIFTY Weekly Chart
NIFTY Weekly Chart

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