Will NIFTY sustain 8000 Levels? - An Elliott Perspective!

NSE:NIFTY   Nifty 50 Index
Greetings traders & investors,
This analysis is a combination of various prospects & contains a clear description for each of that

"we don't understand a movie by missing half of it".- the same is true with markets,

Let's understand NIFTY in higher time frames & continue through the same tunnel in lower degrees
There are 'n' number of possibilities(probabilities) that could frame the near & long term future moves for NIFTY . the analysis progress through the provision of unbiased weightage to all of them based on various factors, rules & guidelines and as usual this analysis is backed by a video presentation, which you can find in our signature section below!

The monthly timeframe comprises of super-cycle degree moves within the grand super-cycle 3rd wave, from OCTOBER 08(this has a long way to go). However, the shorter time frames have a different story (which is important for traders).
The 3 waves in the super-cycle degree have been completed and we have the 4th wave in the sequence, unfolding.
The 50% R of the 3rd wave have been tested & the current move is a retracement of the correction & it could end relatively in the cluster of resistance zones (in lower degrees).

This analysis takes into account the psychology underpinning the asset, mathematical relationships, geopolitical events & finally indicators, only to support the analysis!

To understand various levels - take profit, Stop loss & trading strategies for the long, medium & short term. please refer to the video!
Irrespective of all the probabilities, the analysis clearly gives the direction for various trading setups.