Whist it is possible that we made a bottom at the low of 4588 on 2nd Jan, it cannot be confirmed till we move above 5100...howevr the moves after making that low have been impulsive in nature.... yet, unless a complete set of 5 waves is made one cannot be sure.
If we have bottomed out then we will not go below 4781... n going above 5100 mite confirm a bottom.... Bank nifty seems to have broken out but it needs to go above 9273... for confirmation.
Unless we r continuing in wave d as of now... or making an extended ending diagonal in which case we wud be in wave b..doubtful... then we may not have made a bottom.
however, rite now... it seems that the lows may be in, need further confirmation in 5wave upmoves and...a move above 5100 nifty for the same.
Lets see.
