bimalscave

ELLIOT WAVE ANALYSIS:NIFTY LONG TERM

Short
NSE:NIFTY   Nifty 50 Index
Analysis based on technical parameters...
wave 1 ---NO issue
wave 2 --- Running correction
wave 3 --- price and time similarity
wave 4 ---Triangle. It may look flat but alteration negates ..on looking closely, it is a triangle.
wave 5---extended, trace 200%
so what next...extended 5th wave retrace 100% with same time and touches 2-4 trendline..
Its just possibility. Charts plotted only for educational purpose.
Views most welcome.
ONLY ANAMOLY 4 TH wave retraced more than 61.8%---in a triangle is it possible or not, NO Book gives a reference.
So Views most welcome!!!!