Elliot Wave analysis of Nifty 50 - Higher level analysis - Full
Have been analysing the Elliot wave on Nifty 50 on a grand cycle level.
From Analysis, we find we are in the making of (III) Grand impulse.
The question arises Will we keep the (III) there or move it upward. Currently it is at .786 Fib ratio. And if we want to move (III) above, Then we have option of marking it at 13000.
This is a refercence purpose analysis and a learning.
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Please check previous analysis on Nifty from the previous posts.
From Analysis, we find we are in the making of (III) Grand impulse.
The question arises Will we keep the (III) there or move it upward. Currently it is at .786 Fib ratio. And if we want to move (III) above, Then we have option of marking it at 13000.
This is a refercence purpose analysis and a learning.
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Please check previous analysis on Nifty from the previous posts.
Comentarios:
Got suggestions from @chirag_Khasiya for the errors in this analysis.
There are few basic issues while checking the subwave markings.
There are few basic issues while checking the subwave markings.
1. 4 of Wave ((I)), it should not be covering/overlap the 1
2. last wave of (III) ( blue 5 wave ) - it is not confirmed yet as the 4th is still broken. So marking should be proper. Also the (3),(4) marking here should be further analyzed on lower timeframe.
And few other basic issues with the EW notation
Thank you @MohitArora