Road clear for Nifty Year End Rally. Expect 3rd #Elliottwave!

NSE:NIFTY   Nifty 50指數
The Nifty 50's Elliott wave pattern looks like a rally just started that will carry on well into the year 2018.

Past days wave action transformed the drop from November 6th into a three-wave corrective pattern. The road to the upside is now cleared. We forecast strong gains for the weeks ahead as the Indian market appears to be inside a third wave to the upside.

We'll let the wave action develop further before we forecast here specific targets. For the moment our long position as well as bullish forecast seem to be on the right track as more evidence adds up for our case. 
評論: Nifty traces first of wave of subminuette wave iii
交易結束:目標達成: closing trade... the pattern is getting complex here. risk / reward shifts from good odds to 50/50
評論: 2.9% from initial trade
Looks like all heading to new highs.
Is the momentum good enough to be treated an extended third?
I was trying to analyse the correction in Gold ( MCX ) ; Dollar bottoming out and trying to relate it with the topping out of the markets.
MCX gold a very important level was 28300 which recently broke and some very important down side levels for the dollar too.

Wow! That's Clear Analysis for a change.
Third wave went on for almost 7-8 months. Does this qualify as an extended wave or a regular?
If third was an extended ; 5th should go on for at least 6 months ending March 2018 / FY Close / NAV Supercharged? Haha
How to reach you?
sciencei dheerajsood
@dheerajsood, Thanks for the great question! In terms of price and time we have now roughly W(i) = W(iii). Hence no extension in third wave so far.

However, third waves do tend to extend on a regular basis. This may happen here as well and we are actually closely watching the Nifty & Sensex for that. We're looking if price action takes off outside the light blue trend channel (to the upside). If this happens swiftly and impulsively we may be in an extended 3rd wave. In that case we would readjust the label (iii) and (iv) for i and ii. Hence we would be currently starting a iii of (iii). Now if that is the case we'll know by the character of the move. It should be complemented by increasing momentum and possibly confirming news.

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