Sorry for Typo error
One cannot count clean impulsive wave upside starting from 6825 lows in Feb2016 to recent highs@8969 - so I am assuming that 8969 could be the top for 2016 & likely a B-Wave in yet to complete 4th Wave which shall likely be done in mid of June July 2017
Going Below 8150-8175- satisfied that Nifty likely has high chances of making fresh lows even below 8000 in coming days, but still we will watch what kind of bounce we get in the coming days.
"USDINR- Is this the reason for scary markets"
Do not be in a hurry as markets not looking immediately for a bounce
Now we will wait on sidelines for further market direction likely a bounce could be expected
Nifty bouncing back
Do not hold below 8135 - it is too risky to expect bounce also
If expecting bounce -let us not hurry & wait because markets not giving confidence
Let the Nifty Fall - May Nifty Rest in Peace- God Help The Bulls
Book Profits Guys & leave the last bit for others--hahaha
I feel elated to get the move again at the top- Keeping it as a diary- awesome
Secondly, if you observe, then a straight line connecting 5118, 6825, 8000-8100 could be generated in the trend I am seeing.
Apologies upfront in my case my understanding of Elliot waves doesn't make sense to you... still learning and trying to make sense :)