In our last update I had mentioned following
‘Expect a pullback from present levels to around 14700-15000 levels. The markets then should take a strong correction , going much below the previous low of 14277. Once we have the down move started , we will further analyse on the price action.’
The markets are currently at 14867. However there is a change in view regarding the point of downfall as the elliot count has changed now.
The markets will now even cross the previous high but not to a very large extent(It will be almost a double top) The markets will rise another about 600 points on the nifty and MAY mark a new high at 15473 or there about. This level MAY mark the end of wave 5.