hi
i too ma taking the wave starting from 4002/it ended as first wave 4545 tehn rested showed consolidation,, which was very very positive and the longer teh conso,,is the longer teh push and thus supported by global news/ and fed news.. it pushed liek naything where we where thinking of correction,, and thus in motion of 3rd wave which still has spave to mve till date at 5350... see here the last two bars are shouing neg closing ,,secondly a cross of 5270 will agian give 200 pts run in nifty which is ,,not digestable,, rgt now ,, hence what i find in thsi present sceanrio,,in daily that nifty wil reach 5350, utmost and then selling pressure has to ultimate come,, because weekly just look has no space to move up ,, hence chances of 5340 are also less... so rgt now 5260 was teh immedaite high and now we can see a down of clearly 200 points in nifty within this week,,
i find hard for nifty to move this week up... but correction but not be too huge,,, as per here 4thw ave
renu