Nifty in wave 2 or b of current move

Well we seem to have completed wave 5 ... and the consolidation phase in wave 2 or b has started... confirmation of the same came when we went below 5545....

we shud correct either 23.6% or 38.2% or 50% or max 61.8% of the whole rise from 4588 to 5629....which comes to 5383(since wv5 began at 5365 we will go lower than this mostly),5231,5108,4985 respectively.

this consolidation shall take place in a 3 wave move.

Counting this move again

As of now ... it seems we r in wave 5 of 5...so this is the last part of wave 1....still one cannot be sure until a wave is over...lets see.

wave 1 or a not over yet.

I think that I was wrong to think wave 1 or a has ended... we are still in wave 3 of wave1.It has extended significantly and the gaps... confused me ... we will soon enter wave 4 which will give some downside n then go for wave 5 of wave 1... it seems.

One cannot be completely sure until a wave is complete tho.

Obvious upside not yet ended

When we made a new high yesterday, it was obvious that we are still going up...however, unless the current move extends...there may be very lil upside left.

Still, downside move will be confirmed only if we go below 5323.

Looks like Nifty possibly completed wave 1 or a

It does seeem that at todays high of 5413... Nifty possibly completed a set of 5 waves...so we can call that as wave 1 or a....If I am rite(n there are no further extensions) we shud now consolidate in wave 2 or b...which means we shud go somewhat lower.

If the correction is shallow n limited to 23.6% or 38.2% of the rise we shud go to 5220/5099 ...over the next few days... it wont be a one way downside... it will be a minimum of 3 waves a-b-c.

If it goes to 61.8% of the rise we can go to 4900.

Lets see.