My Elliot Wave Count is Still Alive

In last post I mentioned Nifty had to close above 4820 level to change the trend.
4820 level proved to be a strong resistance. Hence my elliot wave count is still alive.

Wave 1 : 5293 to 4955 (338 Points)
Wave 2 : 4955 to 5035 (0.25% Retracement)
Wave 3 : 5 Subwaves

Wave 3i : 5035 to 4765 (270 Points)
Wave 3ii: 4765 to 4935 (170 Points) (61.8% Retracement)
Wave 3iii: 5 subwaves

Wave 3iii a : 4935 to 4877 (58 points)
Wave 3iii b : 4877 to 4912 (35 Points)
Wave 3iii c : 4912 to 4692 (220 Points)
Wave 3iii d : 4692 to 4827 (135 Points) (61.8 % Retracement)
Wave 3iii e : 4827 to .....



Wave 3iii e is on. Time to book profits in shorts around 4700. No positional short is advisable below 4700.


Pivot point

R2 : 4856
R1 : 4806
PP : 4777
S1 : 4727
S2 : 4698

Trendz

Week : Down
Day : Down
Hour : Down
30 Min: Trading (4740 - 4810)
15 Min: Trading (4750 - 4795)

Thanks