Trading Nifty on 05-07-2012

This channel doesnot foresee a retracement below 5210-5220 .

1.23 PM
Used a line chart on 5 min T/F

And this wd explain why I said no shorting as yet.
1.45 PM

Just to recall how our labels stood:
Q
(i)=5095-5160=65
(ii)=5160-5126=34
(iii)=5126-5317=191(294%)
(iv)=5317-5266=51
(v)=5266-5295* and should do minimum 0.62*65=40.5=5307 or ideally 65 points=5331 to complete the 5 wave form.
UnQ
3.15 PM