Choppiness at its worst( for retailers).High frequency logarithmic trading which can stump anyone looking for intra-day scalps. No wonder "jobbers" have become an "extinct" breed.
Anyways--- continuing with my counts:
SW1=5400-5202=198
SW2=5202-5326=124
SW3=5326-- downwards Target minimum is 1.62*198= 320=5006 as a 5 wave form :
(i)=5326-5142=184
(ii)=5142-5229=87
(iii)= 5229-4990*(should ideally be taking Nifty to 4930 as a 5 wave form
5229-5121=108
5121-5159=37
5159-4990=169
4990-5065*(4990-5065-5030*)likely to test 5077/5105.
Shorts may be created accordingly for targets below 4990 with SL at 5122
Raghu
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