Nifty wave Corrections: expect 10637 minimum
Nifty:10989 shows a Trend Line Break Down.
Minor wave 5 seems to be completed at 12430.50.
if this turnout to be true Nifty is completing multiple degree waves here.
A minor wave 5, an intermediate wave (5) and a Primary wave [3[.
Minor wave 5 is completed in 5 candle and corrected swiftly in 3 candles,
to break down the assumed 2-4 line, can be taken as sign of completion of trend.
In this case wave wave [3[ is extended here and can retrace to wave [4[ zone ,that is below 9119.
Another view is that we are still in minor wave 4, is forming an abc pattern may conclude
a=c 10637 or an elongated c even developed,1.62% of a = 10070 around.
Then the 2-4 line can be redrawn again to see a further jump towards 13000.
Note:This is my prime view of Elliot wave count, which I am posting here for the past two years.
Thanks everyone.
Minor wave 5 seems to be completed at 12430.50.
if this turnout to be true Nifty is completing multiple degree waves here.
A minor wave 5, an intermediate wave (5) and a Primary wave [3[.
Minor wave 5 is completed in 5 candle and corrected swiftly in 3 candles,
to break down the assumed 2-4 line, can be taken as sign of completion of trend.
In this case wave wave [3[ is extended here and can retrace to wave [4[ zone ,that is below 9119.
Another view is that we are still in minor wave 4, is forming an abc pattern may conclude
a=c 10637 or an elongated c even developed,1.62% of a = 10070 around.
Then the 2-4 line can be redrawn again to see a further jump towards 13000.
Note:This is my prime view of Elliot wave count, which I am posting here for the past two years.
Thanks everyone.
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Caution: Nifty is trading near crucial support level,2-4 line support and 50% retrace level is 7548
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