In the analysis done in July, we had studied the Elliot progress.
https://money-manthan.blogspot.com/2026/06/nifty-rally-elliot-perspective-of-it.html
To summarize this progress:
1. Wave 1 was 22282 to 24601
2. Wave 2 was 24601 to 23070
3. Wave 3 started at 23070.
Wave 3.1 23070 to 24531
Wave 3.2 24531 to 23606
Wave 3.3 should be 25970.
So, the next interim targets should be 25800 to 26000.
Wave 3.3.1 would be ongoing currently. If this analysis is correct then the month of August would be range bound between 24000 and 25000 as the first 2 waves of wave 3 are ongoing.
