NIFTY TODAY WITH A GAP UP REMAINED AND FILLED THE GAP CREATED YESTERDAY CONVINCINGLY. EAGERNESS TO FILL THE GAP IN THIS CASE REVEALS PSEUDO BULLISHNESS. NOTWITHSTANDING MUCH ANTICIPATED RELIANCE RESULTS AND SUBSEQUENT SHARP FALL FIZZLED OUT ALL THE EUPHORIA CREATED THROUGH OUT BY THE NEWS ANCHOR...BACK TO CHARTS TOMORROW NIFTY WILL AGAIN IN SUB WAVE CORRECTIVE MODE...AND NIFTY LIKELY TO EXPIRE NEAR 10500-10550. THAT'S WHAT MY ANALYSIS INDICATES AND I PERCEIVE....
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Also what should be the SL?? Please guide..
My feeling is that the C from today's high has started as a 5 wave impulse... this could be "a" or it could be i but my sense is that this is likely to play out as a 1-2-3-4-5 and the bottom will be somewhere close to 10440, which we could see on Friday..