This is my second Hypothetical view on Nifty
long term Elliot Wave
Count, which is having a strong wave III
personality. This view doesn’t have the wave 2 & 4 alternation conflict etc ,as it was very obvious, in the first view posted in earlier issues. But here also the wave IV is retraced nearly 0.786% of wave III
, that is ONE reason I was not confident to bringing it to the prime view. But those who are aware of the rules , it says that, any such irregularities are acceptable when we are dealing with triangles.
In both case we are in primary wave , so there is no major issue at present in following a bullish
view. But I prefer to continue with the earlier view as we don’t have the data here to see the wave II, which is very important to have a proper follow up. This issue is brought up for study purpose only.
Notice: No Data Available for the wave II in this count.