Nifty as on June 2016 : Observations in diverse time frame

An up date to my earlier blog

http://lalitlk-lalit-lk.blogspot.in/2016/05/nifty-bi-monthly-chart-review-of-elliot.html

first let us examine Nifty TF Bi-Monthly chart :

It looks to me  waves 12345 having done Nifty is in corrective phase.

Next I had attempted to compare progress in Macd in diverse time frame :

Worried a black swan effect may be on card similar to http://www.elliottwave.com/Currencies/British-Pound-Gets-Pounded-Why-Brexits-NOT-to-Blame?rcn=tw1601