Elliott_wave_study

Weekly nifty Elliott wave theory its time to ride C wave

Short
NSE:NIFTY   Nifty 50 Index
As i have observed market has been long form the log time after 2008 crisis if we impose the five wave pattern in it as i show in chart Please correct me if my wave count is wrong i just want to discusses weather we have right now a big short or not i feel in before march 2021 market will fall and it been in 2008 Please share your view on it.

Some point which also supporting the fall in the market

  • Repo rate of RBI is at all time low 4 % for us its .25 % just above the zero as it was in 2008
  • NIfty PE ratio is above 28 which also indicate not to go long in current circumstances
  • Conflict Between world and china
  • Every one is aware of pandemic condition we have right now

This is my first post If i forgot to mention something please forgive me

Comments

I agree. It looks like we are now starting wave c
+1 Reply
Correction with present trend can't go that deep.. There are multiple supports which will need a big news to make it fall that far!
+1 Reply
its futile to expect a coorection that deep
+1 Reply
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