Nifty Elliott wave analysis for 20th Dec 2018

NSE:NIFTY   Nifty 50 Index
Wave (v) in blue color is in extended zone and wave (v) in red color will be in extended zone after 11016. Maximum projection of both these waves are coming at 11071.

So we can conclude that from 11016-11071 range small or big decline is possible. This decline can be 45-75 points or it may be 120-200 points.

The only confusion for that decline is because of the pattern shown in ellipse which i am not able to identify.
Great analysis...
Hi, How to measure 61% as mentioned in your demonstration?
Thanks for the detailed EW analysis.
The effect of Fed rate hike will immediately lead to drop by about a 100 points
@bishon, what do you want to say???
pracash12 chirag_Khasiya
@chirag_Khasiya, sir this chart is for positional or intraday??
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