Will Nifty rally continues? Is Nifty 20000 possible this year?

Hi, as per my previous post our primary target was hit today and nifty showing upward pressure after going down to 38%. Will it rise further? Yes! Of course it can retest the previous day's high, exactly 78% of the Fibonacci ratio from the low created today. According to Elliott 5 wave movements, this can be the first phase of the 5th wave of the trend that started from November 10. But if you want to confirm it, it should goes up from the current all time high. There is a possibility that the market will come down from the resistance levels marked above between 18800 and 18900.
If Nifty falls from that zone short positions can be taken for a few days. Also, if Nifty fails to hold above 18500 level, then our second target will soon become possible in this scenario.


Please understand that nothing I tell you about market potential is a 100% guarantee.