Nifty 29-05-2017

I would like to update my numbering of my previous post https://niftytechblog.wordpress.com/2017/05/23/nifty-23-05-2017/

  1. Wave iv came to wave ii region. This is possible in terminal form of Elliott wave
  2. But now I see that current wave v got elongated. This made my wave iii as shortest wave – which is not allowed in Elliot wave theory.                                                                Wave i length = 292, wave iii = 261, current wave v = 296 (in progress)

Hence with this new development, my best guess is below count which is in form of extended wave iii

Nifty 29-05-2017

 

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One thought on “Nifty 29-05-2017

  1. Hi, This wave count looks better to me, as NF was showing a possible bullish wolfe wave target of 10200-10400 rage before it can turn down. Rest left to the market makers 🙂

    Thanks for your updated wave count,

    Like

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