further ew moves...

yday i said "now on nifty we should watch the fibo ret(2862/2746/2631) of this upmove from 2253-3240. if not held then previous low will be likely to be tested."

during the day nifty slid upto 2860 and bounced to 3005 then again came down below 2900.

now if 2860 is broken these downside lvls will come.


C-4, C-5 or big B, so what wave we are in right now?

C-5 will be confirmed closing below 2631, for now its both options big B and C-4 for us. if big B is correct(which is doubtful) then rally up over recent highs from any of the above given lvls, if C-4 is correct(our present bias) then nifty will get into a rangebound movement after hitting above lvls for few days before breaking down. in C-4 scenario upper limit will be probably 3100.