NIFTY IS IN ITS MAJOR FIFTH

Nifty is in its Major 5th wave having completed its 4th wave in the week of 25.10.2002 and has now completed the sub wave 1 and in its corrective phase of "abc" from 2008. And the same is market in a small yellow circle in the above chart to understand the "Positioning of the market" in the current scenario. Where that "c"(of the (2)nd wave) will end and when the next sub waves 1 & 2 will unfold: A most likely pre-election.

An alternative scenario would be: The (2)nd wave completed at 2253 and the sub wave 1 comleted at 6339 and sub wave 2 is on.

Some of the sub waves would be more clear in "Day Charts".

Credit: Ilango