Nifty got resisted at a previous top 10987 with a small spike and a small breakout from the falling trend line and then corrected more than what I was expecting. The count become difficult with more and more option developing with an unclear pattern . Still I am continuing with the view that we have started wave 5 and currently in some 1, 2 - 1, 2 is under play for the wave 5. So my last week chart is updated here with slight changes and the things will be more clear only when the pattern become clear.
This chart is labeled with a different count if wave 4 is not completed at 10004, if we are still in wave 4 correction this could be a possible count assuming that the next up swing could be another internal wave c.
Note the point that, the speed of the recovery was very sluggish and I was also doubting another low up to 10000 again. But that is not the case it seems now.
Note the point that, the speed of the recovery was very sluggish and I was also doubting another low up to 10000 again. But that is not the case it seems now.