Currently we seem to be working with two differen targets for 'C' wave. As per the equality a=c we have a target of 5515.80. As per the currently developing impulse wave, so far we seem to have completed 3rd wave. And we are in the developing 4th wave. If 4th wave takes 38.2% of wave 3 which is 5316.85 - 5125.45 = 191.4 in length, is 5243.70. A 61.8% of wave 1 through wave 4 is (5243.70 - 5095.55 = 148.85 ) 91.75. This gives a target for 5th wave of 'C' as 5335.30.
This makes us to think there is a possibililty of wave 5 to extend and subdivide. In that case we may have to think of 1.618 or 2.618 fibonacci relations for 5th wave. And this will have targets of 5483.50, 5631.70 respectively.
We shall review this posibility as wave develops.
Nifty hourly elliott wave analysis:
This makes us to think there is a possibililty of wave 5 to extend and subdivide. In that case we may have to think of 1.618 or 2.618 fibonacci relations for 5th wave. And this will have targets of 5483.50, 5631.70 respectively.
We shall review this posibility as wave develops.
Nifty hourly elliott wave analysis:
Nifty Pivot Table:
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