If the second wave was an expanded flat and currently the 'c' is in progress, then will it complete the 'c' wave near 5035.64 [or 5041] and start the 3rd wave up? This can be possible if the 'c' wave is truncated and stops here. There is another possibility of 'c' extending and in that case it may go up to 1.382 times the 'a' wave to touch 4994.10 which is also the terminating point of previous 4th wave 4994.95. Which one will the market prefer? Well we shall wait and watch.
We should see the price moving in a impulsive manner right through the previous high 5144.40 This will confirm the starting of third wave.
Nifty Pivot table:
Nifty Elliott Wave analysis hourly chart:
Nifty Elliott Wave analysis 5 min chart:
Nifty Daily Heikin Ashi chart:
Nifty Hourly Heikin Ashi chart:
Nifty 5 min Heikin Ashi chart:
We should see the price moving in a impulsive manner right through the previous high 5144.40 This will confirm the starting of third wave.
Nifty Pivot table:
Nifty Elliott Wave analysis hourly chart:
Nifty Elliott Wave analysis 5 min chart:
Nifty Daily Heikin Ashi chart:
Nifty Hourly Heikin Ashi chart:
Nifty 5 min Heikin Ashi chart:
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