Nifty Elliot Wave Analysis - Part 3 - We see the outcome

Let us analyse Nifty further drilled down - after Part 1, Part 2 series of analysis

Outcome from this analysis :

1. We have not yet gone back and corrected anything from previous Part 1, Part 2. It is a continuation. We understand now in Part 3 analysis that the previous markings needs correction, but we will look them again later.
2. Part 1, part 2 all shown the Leading diagonal which is most interesting. Yes we already knew when part 1 was made. But we are analysing one after another.

The prized result - We got the Leading Diagonal.

Analysis
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• We are doing analysis from 12103 top.
  
  
• The subwave 1 was made with zigzag correction
  
  
• The subwave 2 was made with zigzag correction
  
  
• From (c) to 2 is a double zigzag correction.
  
  
• Check the marking X, we are analysing this part down. From 11980 where (c) and 2? are marked.
  
  
• We found our (a) subwave at 11464. We got (b) at 11706. The subwave (c) is in the making going further down. We are analysing now this part.
  
  
• We found (i), (ii), (iii), (iv) properly. The (v) subwave is in the making. Let us analyse this down.
  
• When (v) started forming, the expectation was that it could be making a leading diagonal. We were expecting a diagonal here as we wanted the big downmovement to slow down.
  
• If we see the parts of the diagonal, it was bringing idea of diagonal from 19th onwards.
  
• See the leg 1,2,3,4,5 of the diagonal. 1,2,3,4 is made, 5 is in the making
  
  What is the outcome from this ?
  1. A leading diagonal is made when it is going to cancel the previous long correction/movement/change
  2. Here the change is ? we are facing a bear trend from sometime. Should this diagonal brings us relief that the trend is complete ?
  3. We need to analyse further to confirm correction - trend completion.
  
  Happy Trading.
  
  Previous posts
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  1. Part 2 of analysis
  
  
  
  2. Part 1 of analysis