Long term - Bearish

krish2052 Updated   
NSE:NIFTY   Nifty 50 Index
I am just new bee. This is my bearish view i think SL 8843. or reversal from 8843 zone may confirm.

I couldn't draw parallel lines so used pitch fork. I couldn't represent well in graph but expect 7100 k levels by june 2017.
May be UP elections? or Mr Trump ? I see the 2-3-4 is very impulsive.

I wish it shouldn't happen.

I am not CMT and not class room training on EW. Its on my self learning.
(0)-9119.20 - March 2015
(0)-9119.20 - March 2015
(A) - 6825.80 - March 2016
(B)-8968.70- Sept 2016
Intermediate: (1) - 7893 Dec 25 2016 ; (2) 8843 - March ;(3) 7104 (4)7515
(C)- 5257.98 - Sept 2017
(D)- 6133.71 - March 2018
(E) -3840 - March 2019

SL-8843 Lets see.
I see the comments and want to state on fundamentals : we are EM. I see Russia and other countries are more attractive for FII and others. I am pro indian please dont mistake me.

I am seeing the facts and recent report also says that 23.3 is higher valuations and you see the Forward PE for Nifty is 16.6 say worst case 17. So may be 2012-2014 prices would be ideal for index
Changing SL - 8904

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