Nifty target in Jan 2021

[Dhiraj]

Nifty being in the last diametric and Leg G , can potentially reverse to the downside with stoploss 14330 , can it hit 13000 by Jan end ?

[sunilkumar tejwaniParticipant]

max it can reach to 14366 , being wave equality with wave a of the last diametric pattern , if we add 1235 to 13131 ( bottom of wave f) then probable target is 14366 , the level also coincides with 1.382 retracement of wave B ( 7511 to 14366 ) wave A being 12430 to 7511. This is a probable target on the Nifty , I think Bank Nifty will give the final push towards double top of 32600 ( Feb 2020 highs) which will give a bit of a push to the Nifty towards 14366.

[Dhiraj]

The count no longer stays valid as nifty has gone past wave A and G similarity in time and value

This is the problem with neo and Elliot waves that acts as a speculative forecasting tool

[Ashish Kyal, Author, CMT]

There is no rule that wave g cannot go beyond wave a. There is just a guideline that wave g tend towards equality with wave a.

[Author]

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