Nifty Long Term Chart - Monthly Chart

Hi

Here I am posting my views on Nifty for a longgggg Term.
The Chart seems self-Explanatory. On the Longer term, we seems to have completed 4 Waves & now 5th Wave is going on.
1st wave started from 920 & completed around 6357 - around 5400 points,
then the 2nd wave was a drop till 2555,approximately 3800 points from the top.
from there we had a glorious 3rd Wave which started its journey from 2555 & ended recently with a top of around 12400 - a first class 10000 points almost.
And from there we had a drop till 7500 (a panic low) then to approx 8890 - (probably the real low) - again almost - 3400 points .
And from the lows of 8900 - we are having a good run of upmove, which could possibly continue till 5400 points to max - 10000 points that gives a target of 14300 - 18900.
Probably a mid point of the 2 targets can be a cautous zone - which comes to around 16600. (CAUTIOUS ZONE).
This is all on the biggest timeframe possible.
Constructive Comments Welcome!!