Nifty PreMarket View.

I'll start with a lesson and end it with a small advice.
EW baby step #1: If you watch a baby trying to walk, you'll notice the determination and "never give up attitude" and above all "one pointed mind" and it finally makes it. I suggest here to simply to count the impulsive waves(trending up or down) only initially. You need not base your trading on it but look at the marvel unfolding. Elliott generally ignores the topping and basing waves if they are choppy but mostly they all fit in the final analysis. This basic counting of 1,2,3,4,5 of an upmove unfolding or a downmove(this could be either 3 or 5). In the chart below, I have labelled 1, 2 and the 3rd is on with sub dividing waves(Most often the 3rd wave sub divides) and when I spotted the "iii" nearing an end, I suggested yesterday that it may trade the remaining day in "5385 to 5415" based on the closer supports and the sub wave 4th of that "iii". Each wave sub divides into 5 in an impulsive mode and during gap downs & ups, they may not be visible.

I have been literally developing TA from the scratch by reading a book and developing the formulae myself and doing it all on paper & graph paper for many years before moving to computer with great relief.(Imagine calculating ema, rsi, roc, etc everyday for 5 to 8 scrips). Though this "hands on" helped to feel the market, I would often fail following just the indicator and the TA worked differently at different set ups/ instances.
Though I had a small 6 page write up on EW for many years with me, I never ventured into it fearing it to be "complex". I realised it too late that it is only my misplaced perception. Once I read those 6 pages, I searched and got this book by "Robert Beckman" on EW and read it non stop and my TA application started to improve and after an initial success, the obsession took its toll now & then and I took few steps back to put it all together and then it made sense in the whole comprehensive package.
In the final analysis, EW has helped me like a "Compass" to navigate through the mystical waves of market movements.
Nothing was ever achieved without many setbacks. How many brilliant cricketers and footballers you come across regularly. A "Pat Cash" of Tennis who trounced Boris Becker in Wimbledon simply disappeared. Why..? You can achieve success with hard work. Any one..I stress it here..anyone can achieve success. But a lasting success..a consistent performance of the likes of Sachin, Federer, Einstein & many more is possible only with "One Pointed Discipline with persistent perseverence".
A small advice to new visitors: You may copy all you want, you may even get some instant fame but if you have any conscience left, that will take care of you.
Pinky, take Mynac's advice in the right spirit. He simply pointed out "Why skip the credits" but you chose to delete the entire post. Why..?
Most lasting change started in my life when I read "Experiment with Truth" by M.K.Gandhi when I was only 15 and was acting like a "Pokkiri".

Update on AD Line chart: Broke the trendline few days ago and re-entered -ve zone yesterday.