Nifty still in the range of 5100-5150.Today was the 6th day in this range.
Important points for today.
1. Falt closing(-8 points) with 0.38 adv/decline ratio.
2. 25th day of rally from 4718(feb6 onwards).
3. On daily charts, wave4 may be unfolding now to about 4950-5000 levels.
4.Weekly chart shows a-b-c correction(wave4) from Oct17-feb5.
wave4 => A- 5141->4711
B- 4711- > 5252
C- 5252- > 4757
So weekly Wave 5 here can take Nifty to about 50-60% of wave3(650 = 0.6*(5141-4003))ie ~ 5400.
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