Nifty had a quiet day today.Consolidation in a small range with moderate breadth and higher than average volumes.Nifty should resume its upmove to target about 5400 levels.
Important points for today.
1. Nifty down by .05% with 1.4 breadth.
2.39th day of rally from Feb6th.
As said in earlier posts, I expect this to be Wave5 daily.
But another Option is that this could be Wave4 daily(Nifty going a-b-c flat correction in Wave4)ie5329->5235(a)->(b)?->(c)?.
If this is the case then I expect Nifty to rebound from 5150-5200 levels(Wave C) and target 5400-5500 level on the bounce and this should be the top of the rally from March 09.Let us see which option will Nifty take in coming days.
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