Nifty & Bank Nifty Elliot Wave Analysis : Time to Sell ????

Dear All,
                         In our Last post we posted that we might complete an irregular  minor 4 at 6744--6755 Nifty spot levels ...............kindly read http://abhaymehrotra.blogspot.in/2014/03/nifty-elliot-wave-analysis-minor-3.html

Nifty respected our analysis and we Hit 6776 Nifty spot and collapsed ......Now what next ????

Case 1.( Slight Bearish in Short Term Then Bounce Back  ) C  of minor 4 in going down ........possible tgt 6660---6632---6600

Case 2. ( Bearish) ....We might have topped out for medium term at 6776 Nifty spot and can complete retrace the full rise from 5933 Nifty spot levels


Kindly chk chart

let chk Bank Nifty chart 

Held exact at Resistance levels 

        Bank Nifty chart shows we have complete an Impulse and might have started abc down


As of Now we are short On Nifty with preferred tgt of 6632---6600 Nifty spot let see how price action unfold

             
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Thanks & Regards
Abhay Mehrotra