Market Trends     

Published: February 15, 2026
Updated: February 15, 2026

Nifty’s Best Is Yet to Come: 33,000 Target Now in Sight

Nifty began its historic bull run on the very day the Covid lockdown was announced — the same day it hit a lower circuit. True to market wisdom, bull markets are born in the depths of pessimism. This time, history repeated itself with striking precision.

Now, the billion-dollar question — Is Nifty past its best? The answer is a big ‘No’! According to Elliott Wave analysis, Nifty has not yet posted its major top. Let’s take a quick look at how this fascinating journey has unfolded since March 2020.

Wave 1: The Birth of a Bull (March 2020-October 2021)

Nifty soared from 7,511 to 18,604, marking the first impulse wave — the beginning of a grand bull cycle.

Wave 2: The Pause that Refreshes (October 2021-June 2022)

A healthy correction followed, as Nifty retraced from 18,604 to 15,183 — an 18% decline, setting the stage for the next big move.

Wave 3: The Powerhouse

This is typically the strongest and fastest phase of any bull market, often driven by fundamentals catching up with optimism.

Wave 3 itself subdivides into five smaller moves:

• Wave 1 of 3: Jun 2022-Dec 2022 ’J 15,183 ’J 18,887
• Wave 2 of 3: Dec 2022-Mar 2023 ’J 18,887 ’J 16,828
• Wave 3 of 3: Mar 2023-Sep 2024 ’J 16,828 ’J 26,277
• Wave 4 of 3: Sep 2024-Apr 2025 ’J 26,277 ’J 21,743
• Wave 5 of 3: Currently ongoing (since Apr 2025) The Big Question: Target for Wave 5 of 3. In Elliott Wave terms, the total Wave 3 typically extends to 1.618×the length of Wave 1. Applying that Fibonacci extension here, the projection comes to around 33,132 on Nifty.
• Target: ~33,000
• Timeline: ~1 year (by late 2026)

Final Thought: Ignore the narratives — trust the price. And right now, the price structure remains bullish. Nifty’s story isn’t over. The next chapter could be the most exciting yet.

Elliott wave projection for 2026

(Prakash Padalia is a chartered accountant, market analyst and technical analysis expert.)