Nifty – Are we onto a 5 wave move from the low of 19335 OR a 3 wave move for which the C wave marked in red is completed.
Elliot wave is akin to weighing possibilities just like more than one routes between two cities, possibilities narrowing down to just a single one as we approach closer.
There is more likelihood of the above mentioned move being a 5 wave move (shown in blue above) for which , after the forthcoming 4th wave move down , 5th wave to move upwards to 19900 level.
NIFTY Opening On 13th Oct 2023