As shown in the chart now 4 th wave is in progress. But the uptrend should continue after the 4 th wave is completed. it has now retraced 23.6 percent of 3 rd wave. normally 4th wave retraces 38.6 percent of 3 rd wave. In some cases when 3 rs wave is extended it can only retrace 23.6 percent of of 3 rd wave.As per guide line of elliot wave 4th wave typically retraces to within the span of the previous 4th wave of a lesser degree. so it is too early to conclude where this 4 th wave will end. we have extended 3 rd wave and at 23.6 percent level. 38.6 percent still lying at 22006.And 4 th wave of precceding 3 rd wave is just above 20934. So it is too early to know to which level this 4 th wave will travel. If this post helps you like it. follow me to get updates
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Diogonal formation in nifty..lower low and now lower high.
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