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The attached Nifty chart is for educational purpose only.
The C.5 wave on the hourly chart shows a completed C.5.3
C.5.4 in progress . It can make either a regular flat or a triangle.
C.5.4 is retracing the prior wave by 38.2 % with target 10511 ( max 10504 where C.5.1 has completed ).
The target of C.5.5 will therefore be minimum 10618.
A sharp will be expected upon completion of C wave.
Comments
In wave theory, always think of the Alt view. Although I am a proponent of the call for 9700 too in 2018, I think we are now in wave iii of 5 . Agree this may give a rise to 10600 + but the correction thereafter will be iv of 5 and we may see close to 10900 to 11000 + in wave v of 5. Just my views and not trading advice
Thank you. You were bang on !