Nifty long term Elliott wave prediction

May 15, 2019

Here I am posting nifty long term Elliott wave analysis. Currently we are seeing nifty sliding in its IVth wave. Nifty Compleated "b" wave of (IVth) near 11789 after that price is falling in "c" wave. As shown in chart price may slide upto 9200-300 near Channel support in long term as shown in chart. "(c)" wave price may fall in five wave formation. Currently price is falling in wave (i) of wave "(c)" of IVth wave. In a very short term 11000-11090 should provide strong support and I am expecting a bounce for wave "ii" of 'c" wave. Wave "ii" of 'c" wave can retrace up to 61.8% fibonacci level. So Any rally towards 11400 -11500 will be good shorting opportunity for the target of 10000 level.
I short I hope...... Nifty trend is set for 9200 -9300 level in 2019 financial Year.