As long as nifty is below 13800 & we see a five wave decline in coming session, we can say that the level of 13800 has registered a significant top. One should look out selling opportunity for the immediate target of 12800-750 zone .
Nice explanation infact I liked the way you briefed it. But I have a query, as per EWT, wave 3 should not be shortest, but wave 1 or 5 can extend beyond the size of wave 3. So why breach of 13800 should invalidate your count?
TradingSutra
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@Falco1n, the extension is valid in currency and commodities.