These are the results of some range calculations I have been using regularly for some months. These Fibonacci based ranges work for any candle duration.
The present calculation is based on price action of the week April 23rd-27th 2018. Valid from April 30th-4th May 2018
So do I feel, the retracement of Wave C has started
fcsa
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@vishyrana, I personally find it difficult to identify Elliot Waves in Nifty. I usually go by Bollinger Bands, candle structure and Ichimoku with Heiken Aishi candles. Also, I calculate probable ranges based on Fibonacci multipliers which have worked quite accurately for some months. But yes, I think a bearish correction is happening. I've been short on Nifty futures since 2nd May.