Nifty reversed yesterdays loss.Today's move makes me rethink on my wave count.Now I think that move till 5399 was completion of wave3's 5th.And right now it is Wave4 daily that is unfolding.Wave4 in its rebound may go slightly above 5400 and then fall back towards 5200 levels later.
Important points for today.
1. Nifty upmove by 1.1% with 2.0 breadth.
2. 42nd of rally from Feb6th.
Looking at weekly charts, Wave1 and Wave3 have lasted for 13weeks(56days) and 14 weeks(66 days) respectively.So we can expect Wave5 weekly that is on since Feb6th to also be of same order approximately.That should mean that we are close to the top of bull market rally.
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