Sharing my Elliot Wave counts for Nifty 50 on weekly chart.
I think it just completed all 5 waves since the corona lows.
And for the last part which is actually 5th wave as marked on chart is
in the form of expanding ending diagonal.
Also to notice is the trendline connecting 2 and 4 is broken.
Ideally 2-4 trendline should not be broken if trend has to still continue its current direction.
It will only break 2-4 trend line when the technically the trend has came to an end.
Also, on 2-4 trendline, Ideally no part of 5th wave should or can break 2-4 trendline, except in case your 5th wave is a diagonal (terminal Impulse). As you can see on the charts 4th of final 5th has broken 2-4 trendline and exactly retested last week with its final 5th of 5th.
Will post another chart where I will share counts of the final 5th wave which is expanding ending diagonal here started in June 2022 and seems have ended last week of July this year.
I think it just completed all 5 waves since the corona lows.
And for the last part which is actually 5th wave as marked on chart is
in the form of expanding ending diagonal.
Also to notice is the trendline connecting 2 and 4 is broken.
Ideally 2-4 trendline should not be broken if trend has to still continue its current direction.
It will only break 2-4 trend line when the technically the trend has came to an end.
Also, on 2-4 trendline, Ideally no part of 5th wave should or can break 2-4 trendline, except in case your 5th wave is a diagonal (terminal Impulse). As you can see on the charts 4th of final 5th has broken 2-4 trendline and exactly retested last week with its final 5th of 5th.
Will post another chart where I will share counts of the final 5th wave which is expanding ending diagonal here started in June 2022 and seems have ended last week of July this year.