NIFTY-Wave iv) completed and wave v) to 16270-400 ?
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MARKET COMMENTARY:
1. Previous i said may be one more high is possible to 16350-16400 if the intermediate wave v) is ahead....
2. Now looks like that is possible and wave iv) could be a expanded flat as i shown here....
3. There is a prefect equidistant channel that connect well for wave i) and iii) as well as wave ii) and iv).
4. We got a perfect bounce once it hits the down trendline in a channel and that is a major support too...
5. I am expecting a 5 waves to reach 16270-16400 to complete wave v) and that is 78.6-100 for the wave i)
6. It bounced from 23.6 fib retracement in wave iii) to complete wave iv) in style...
DISCLAIMER : All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
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