Nifty Elliott Wave Analysis

remember your 1,2,3,4&5 are the labellings for the extended 5th wave(not simple motive wave) & if market does not reverse from the previous wave 4 then it will take us to the wave 2 of the 5th wave extension according to elliott guidelines
Nifty forming Triangle for 4 Th of C wave ?? If it is a Triangle then Nifty may see approx 70-80 points rise from bottom of wave "e" & Nifty may go above 4860

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Another alternative is 4 th wave may form abc Zigzag with a wave being Leading diagonal.So c wave has to go below 4769 i.e below a wave & then 5 th wave up.Either alternative shows atleast 1 wave to the upside

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I think since wave 2 is sharp therefore from the theory of alternation wave 4 should be sideways & these are the leballings for wave C of the countertrend move ABC.

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