Nifty Elliot Count Update

The 5 th wave up in Nifty Index seems to be over after the sharp fall in the indices.

The next wave down now is wave (ii) of larger wave 3 up.

The first part of the corrective wave is an impulse whose count is shown in the chart.

Wave	Start	End	Move
1	5182	4968	214
2	4968	5034	66
3	5034	4755	279
4	4755	4853	98	~=1.5* wave 2
5	4853	4538	315	~=1.5* wave 1

The rebound can be expected to 4750/4820 range .