A typical 4th wave channel breaks scare and then the powerful 5th wave reversal. The channel support comes @ 4995. Holding the same if it can move past 5099, the likely targets are 5175-5250.
A likely 5th wave scenario..
"4970" Pivot of the day held well and the 15 days-correction seems to be over as Nifty has moved past all the resistances except "5099".
2 comments:
dear ilango,
plz tell us that whether nifty correcting in a contracting triangle , still exists ir not. bcoz prior highs were 5110, 5077, and today 5068. on lower side it is 4904,4920,4934. and todays close is below 5077. so still that possibility exists or not plz explain.
thanx
saurabh
anyone following www.only4hni.blogspot.com ??
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