TODAY NIFTY WITH A GAP DOWN OPENED AND RALLIED TO BREAK YESTERDAYS HIGH. HOWEVER FAILED TO SUSTAIN AND FELL. WHOLE DAY NIFTY SWINGED WITHIN A RANGE BUT BROKE SUPPORT AND MADE A LOW OF AROUND 11150...ITS ALL BECAUSE OF RELIANCE ANTICIPATED RESULT...NOTWITHSTANDING NIFTY PROBABLY HAVE MADE A AND PROJECTIONS REALLY LOOK OVERTLY OPTIMISTIC...3RD MINUTE WAVE IS EXTENDED SO, THEIR ARE TWO POSSIBILITY EITHER 5 MINUTE WAVE WILL BE TRUNCATED OR GO WITH THE NATURAL FIB EXTN...BUT DO PROJECTION INDICATE SOMETHING...SOME POSITIVE NEWS IS ROUND THE CORNER...I DON'T KNOW...LETS SEE TOMORROW...
ASSIMILATION ONLY FOR EDUCATIONAL PURPOSE
TRADE AS PER OWN RISK ASSESSMENT.
Though Chances of a truncated 5th wave are higher.. Not expecting 11380 odd levels to be broken..
Also, in my view, before charging towards 11350 plus levels, there's a possibility that today's day low will break, though not by much.
Watch out for Financials leading the charge tomorrow and day after with some support from Reliance.