Nifty Elliot Wave ReCount

I have made correction in the wave count.

Wave 1 : 5293 to 4955 (338 Points)
Wave 2 : 4955 to 5035 (0.25% Retracement)
Wave 3 : 5 Subwaves (5035 to 4676) 359 points

Wave 3i : 5035 to 4765 (270 Points)
Wave 3ii: 4765 to 4935 (170 Points) (61.8% Retracement)
Wave 3iii: 4935 to 4692 (243 points)
Wave 3iv: 4692 to 4768 (76 points)
Wave 3v : 4768 to 4676 (102 point)

Wave 4: 4676 to 4844.

The 5th down wave might have started or the 4th wave may extend up to 4895 (61.8% retracement).



Pivot

R2 4872
R1 4837
PP 4810
S1 4775
S2 4748

Trendz

Week : Down
Day : Down
Hour : Trading (4765 to 4812)
30 Min : Up above 4791. Below 4755 down
15 Min : Trading (4796 to 4826)

Can short nifty if nifty hourly close is below 4750.

Thanks