Monthly chart attached with probable path of nifty"s 5 primary waves and the 3 retracing waves. The chart is from
2007 and depicting multi year waves. If we consider these 5 (blue) + 3 (black) sets of waves as Wave 1 & 2 on monthly time frame we are about to get a much bigger ranges running into the next decades. One important point noted here is the place marked
wih an "X". In monthly we got a 1-2-3 pattern at the bottom BB and after that it was go go go and go. The area marked in
light green oval shape is a set of waves and all put together it makes the 1st and 2nd Primary waves of the millennium. Please
also not that this is not exactly the EW and do not try to compare with it. This is a different study and may not match with EW.
2007 and depicting multi year waves. If we consider these 5 (blue) + 3 (black) sets of waves as Wave 1 & 2 on monthly time frame we are about to get a much bigger ranges running into the next decades. One important point noted here is the place marked
wih an "X". In monthly we got a 1-2-3 pattern at the bottom BB and after that it was go go go and go. The area marked in
light green oval shape is a set of waves and all put together it makes the 1st and 2nd Primary waves of the millennium. Please
also not that this is not exactly the EW and do not try to compare with it. This is a different study and may not match with EW.