Short story of Nifty Spot

Time theory suggests that we are in the larger X-wave down or G-wave diametric of which one leg down completed from 6355.6 - 5933.3. Now an  upmove is happening correcting the 8 days fall from  6355.6 - 5933.3 and it may retrace 38.2 % (6095) / 50% (6144) / 61.8% (6194) / 80% (6271)/ or more in case of flat) of the last downmove over a period of 8 days or more.  After this upmove another downmove will come as the last leg(or more) to complete the correction.  If the correction holds 5614 (Approx), this will confirm as X-wave corrective else it will have to be treated as G-leg down and then it may even touch 5000 levels.