Nifty Elliot wave count update

Here is the updated Nifty elliot wave updated version.
In this post I am using the Nifty spot while earlier I was using the Nifty futures. The Correct way is to use the Nifty Sopot so I will keep following elliot on Nifty Spot.

Well, the count as per me is in wave (iii) of 5th. When breaking this (iii) wave we are in 5th wave. This 5th wave as per me will get over if Nifty does not cross above the 5182 top.
Here are the workings of wave

Wave (iii) of 5 breakdown

Wave Start End Move Comments
1 4375 4744 369
2 4744 4580 164
3 4580 5110 530 Extentsion of wave
4 5110 4935 175 ~= Wave 2
5 4935 5182 247 ~=0.5* wave 3




The break up of the larger wave 5 is as follows

Wave 5 breakdown

Wave Start End Move Comments
(i) 3919 4732 813
(ii) 4732 4375 357
(iii) 4375 5182 807 ~= wave (i)
(iv)
(v)




So there is a possibility of Nifty move getting over at 5182. On the upside if 5182 is crossed then we can look for 5305 where the subwave will equal wave 1.

Lets see what happens next.



Attaching the updated elliot count chart.