29/05/2016
Indian Markets started upward Journey from 4511 and make a high of 9119. This move can be regarded as first wave of ELLIOT Wave Theory. This first wave was of 4608 points on Nifty. Then started second corrective wave. There was a correction of 50%. Mathematically the correction should have been upto 6815 on Nifty. But the correction terminated at 6825 on budget day. Limited purpose could understand it. This was the end of second wave or Wave B of ELLIOT Wave Theory. The next wave or Wave C has already started. The interesting facts and expectations from this way are:
1) It is a known fact that Wave C is most powerful and prolonged wave. It is usually double three times powerful than First Wave or Wave A.
2) A Wave consisted of 4608 points. This was the era of inaction on the part of government but full of expectations from new government. Now this wave has started when the present government has shown results and this government seems to be full of action.
3) Under such circumstances one needs to make an assessment of present wave. First Wave started from 4511 and reached to 9119. Now third wave has started from 6825. What can be next target?
Hold Your breath. If double, it can reach up to 13650 on Nifty and if three times we might see 20,000 mark on Nifty.
The next job is to identify the sectors which are going to move up. I have almost traced. But You must do Your homework.
Stay connected You shall be intimated soon.