NIFTY ELLIOTT WAVE ANALYSIS _ INDIA

Frankly, I could come up with a variety of counts for the market right now. About 4 counts say that the market has reached a top and we should be ready for a minor correction till July and then prepare ourselves for a bull market again. Analyzing the expanding ending diagonal proved to be tough. We could go up to the resistance zone indicated by the box and go down till minor wave 4 of wave 5 or make a new high till the extension of the top trendline of wave 5 and go down all the way.

Final Conclusion: We will go up for a week(7-8 business days) and then head all the way down to 7750. Be prepared to take shorts when you see an opportunity.