Nifty moved in an inside range today.Wave4 daily or Wave2 weekly is not clear as yet.If nifty goes down to ~5150-5200 and then bounces back to ~5300-5350 , then its a wave4 followed by wave5.For weekly wave2 , Nifty will keep going down to about 5000-5100 levels before bouncing back to 5300+.
Important points for today.
1. Nifty upmove of 0.4% with 1.0 breadth.
2. Inside day.(Means the previous trend ie down should continue).
Here Nifty may be forming a base ~5200 to go above 5200 in a decisive way.If that is so, Nifty can spend 2-4 weeks ~5200 before giving a big breakout.
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