Nifty extends in its 5th wave down..

The low that was seen in the morning was the first wave of the 5th down and the same was confirmed on a break below 4670. It is clear that the fall from 4853 is subdividing and we are in its 3rd down and it will pause around 4485 and after a brief pause/ bounce, will make another low to complete a "5" from the 4853 high. Till then "sell" on bounces..
"Pivot Trading" gave a clear sell below 4751, when it broke the morning channel at 4715..we did not sell there..!?. Break of "4670" confirmed a severe fall which is where the Long was stopped out. This is some serious fall. When you look at it relative to the prices you saw a week ago, you tend to go for bargain hunting..Wrong. Time aspect has to be completed.
As Mr.Deepak pointed out, the "Tech table" gave a false buy @ 12.00Noon and reversed to a sell at 1.00PM and confirmed the same at 2.00PM. In a trending market, mechanical systems work best. We may have to leave our "brains" back at home and act dumb..and follow the markets mechanically.