Nifty : EOD 07-02-2012

Assuming that the Impulse started from 4531 is doing its last subwave as follows:




This last subwave(5 in above)can be seen as over in following manner:




So is the Upward Impulse over after chalking out 4531-5412?
Final yes to that would come later.But by that time it would be too late to short.
So start shorting at all rises with SL at 5412.
Why?
Today's close is below 5Hrema and 9Hrema.
Also 5Hrema has crossed over 9Hrema.



And on daily charts:
A Bearish Engulfing Candle is visible.If it is followed by a close below 5DMA,end of Impulse would be confirmed.

Best of luck.

Raghu

On daily charts