NIFTY EW

Most bearish scenario is still another top pending. There are two completely opposite possibilities as per higher TF.

1. W3 done at 11171, W4 done as running flat 9951-11760-10004, and W5 started for a target beyond ATH and 12xxx/13xxx.

OR

2. W5 done at 11760, A done at 10004, last leg of B running and C target is 9xxx/8xxx

Comment:

W3 done as expected giving another top. Now it will be worth watching if bulls are in too much hurry to complete the waves by giving another top tomorrow, or will they allow the bears to take it to 113xx/112xx.

Tomorrow if NIFTY breaks today's high, short at 11545/60 with 11561 SL and hold for your dear life.

If doesn't break today's high, short for a target of 113XX-2XX.

If breaks today's low with a gapdown, still short for target 113XX-2XX.