NIfty "LOG" Scale Analysis- IF Bulls dont stop NOW, nxt TGT16.5k

Hi Guys,

This is a "LOG" scale Nifty 50 chart in the Longer Time Frame (Weekly).
As seen in the chart, IF the Bulls don't stop raging at this juncture (and bears don't come out of hibernation), the next target is 16500 !!
If bears take control NOW, then we'll see the main 4th down, correlating to the high-time due (and a healthy) profit booking correction wave.

Happy Investing !!