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Indian NIFTY stock index, potential capitulation today

Nifty 50 Index (NSE:NIFTY)  
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NSE:NIFTY   Nifty 50 Index
Chart Patterns Technical Indicators Wave Analysis
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Today saw a potential capitulation low in the Indian NIFTY stock index, marking the end of an 8 week sell off falling 30% from January highs. Today's reversal keeps the trend up longer term with prices within the long term channel from the 2008-09 lows (today also marked 38% retrace of the bull market from 2009-09).
Comment:
I must apologise - I missed THE LOW in the NIFTY by 1 week.
The Index has subsequently risen 150%.
I'm therefore not that sorry.
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