Potential Nifty Top With Fibonacci and Elliot Wave Theory

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Plotted Elliot Waves on Nifty Monthly Chart so lets find out potential top

1. Nifty Top Based on Elliot Wave Theory where Wave 1 = Wave 5
a. Consider Wave 1 start from 279 which is lifetime low of Nifty then wave 5 should 13589.2
Where wave 1 height is 6078.1 + 7511.1(low of Wave 4) = 13589.2
b. Consider Wave 1 start from 0 then Nifty wave 5 top should be 13868.2
Where Wave 1 height is 6357.1 + 7511.1(low of Wave 4) = 13868.2

2. Nifty Top Based on Elliot Waves and Fibonacci extension where Wave 5 is equal to 0.618 of Wave 3 which is 13800.95.
The next Fibonacci extension would be 0.786 which is 15510.8 which is less likely to happen.