Nifty50 - Elliott Waves in Weekly chart

23 Eki 2021

Impulse Wave 12345 formation shown. Wave 5 yet to be completed. Subwave of wave 5 also drawn. Wave 4 & 5 still pending in the subwave. Wave 4 is expected to retrace to 0.618. Wave 5 is expected to reach 18600 levels. This is calculated basis the idea that the size of wave 5 will be equivalent to wave 1. Hence, a truncation will occur, followed by sharp reversal - ABC.