Nifty : EOD 09-04-2012

So we have retraced 150(=5378-5228) of the Impulse(=5136-5378=242).
i.e. 62%

And a simple way to label this Retracement would be:

But my labels are different and I reject above labels primarily because A=73(5378-5305) is not a proper Impulse(subwave3 is not extended) as shown in chart below:

And my labels are:That only A of retracement ABC has played out so far. And this A had an extended 5th subwave:

And usually the extended 5th of A gets fully retraced by B as a 3 wave form


Raghu