CNX-Nifty-index-time-frame-cycles-of-21 : Up date # 3

With out stating details of my data constructions, already shared in an early blog :

http://lalitlk-lalit-lk.blogspot.in/2015/10/cnx-nify-index-time-frame-cycles-of-21.html

here is my submission for NIFTY been topped out at 9119 vide chart as on 3rd February 2016 :

IMHO , Nifty at 6357 was in wave-3, 2253 in wave-4 & 9119 in wave-5.

"When the MACD is peaking above the zero-line after a strong move higher that indicates wave 3 is forming. If it is pulling-back after peaking, then it is probably forming wave 4. It is a requirement of wave 4 that it should lead the MACD to move all the way back down to below the zero-line. When 4 finishes the MACD starts rising again as wave 5 begins moving higher in the direction of the main trend. Wave 5 is indicated by the MACD crossing back above the zero-line again and forming a lower MACD high, thus signalling divergence with price which is expected to reach the wave 3 highs as a minimum expectation."

Quoting from https://blog.forex4you.com/how-i-use-macd-to-trade-elliot-waves/

I may recall here that Macd remained in negative territory at the start, was in range of 11 & 13 periods subsequently ; yesterday it dipped the zero line after a gap of  38 periods in confirmation of the Nifty being topped out at 9119