Nifty Update. As on Thurs 16 April 2026

Nifty Update
As on Thu, 16 April 2026
CMP: 24,196

Bottom line

Nifty is in wave D up of a larger bullish triangle.

By now, it is reasonably clear that wave C of the larger triangle is complete, and the market has transitioned into wave D up.

On the 3-day chart, a bullish triangle structure continues to unfold.

Within this wave D:

• Nifty appears to be in a 3-wave advance
• Wave A (of D) is either complete or nearing completion
• A wave B correction / consolidation should follow
• This should be followed by a final 5-wave rally in wave C (of D)

On the intraday charts, a 5-wave impulsive rally is completing, which:

• Confirms the low at 22,182 is likely in place
• Signals near-term exhaustion in the current upmove

Strategy

The ideal bullish entry remains:

• After completion of wave B (of D)
• This could unfold as:
  • Time correction (sideways consolidation)
  • OR
  • Price correction (sharp pullback)

Patience here is key — avoid chasing strength into the end of wave A.