Elliott Wave Analysis for # NIFTY Cash 8907

Elliott Wave Analysis for # NIFTY Cash 8907

As last I discuss in Nov 2016, about Nifty in right track to reach 11000-11500…Still we in right track to reach 11000-11500.

My projection about 11000-11500 was in Feb 2016 @ 6900..still intact.

Please refer https://ellwavetarget.blogspot.in/2016/02/12th-feb-2016.html

Now I discuss here my further observation about NIFTY with help of ELLIOTT WAVE ANALYSIS….

Both charts shows that Nifty moves in….

UP in 3^rd Cycle wave

Up in 3^rd primary wave

Down in 2^nd intermediate wave

And Up in minor wave-b(in FLAT correction) in intermediate wave 2^nd.

In 2^nd Intermediate wave..inside Nifty moves in FLAT correction (ABC).Minor Wave-a was started downside at 8968..and ends at 7916 @ Nov 2016…than minor wave-b was started from 7916…still running.

The strength of wave-b will decide the strength of wave-c downside…till wave-b retrace @ 94% of wave-a..still going up..max strength of wave-b will be @138.2% of wave-a i.e @ 9350..lets Nifty to decide how much it will go up.

I will conclude as market moves…