Elliot Wave Analysis of Nifty on Monthly Time frame (updated)

Nifty has completed Major wave 4th @ 15183.40 on June 17, 2022 and now, after breaking out RSI divergence is over. Now, Nifty is in Major 5th Wave and completed its internal wave 1 and wave 2 and started wave 3 which has target of 22693. But before that Nifty will make correction upto 18690 in July month as Nifty is overbought.

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This chart is active when Nifty close above 18600.