NIFTY: The correction from 5815 in NIFTY is a-b-c correction of 4th of C ,The minimum correction of NIFTY is 5615 i.e. (0.618* a) or max it can do 5547.Now its look very difficult that NIFTY will break 5550 on closing basis for short term,as there is -WW below 5550 which gives the target of 4950 and there is H&S ,neck line at 5620 which gives the target of 5390,The correction will over on 15/16 OCT ,a panic low any where in between 5615-5550 and a reversal for the final up move of 5th of C.There is no major participation in the 5th wave ,so buy only selected NIFTY50 stocks.So buy any panic in between 5615-5550 for the final up move for the target of 5935/65 ,time frame last week of OCT or 1st week of NOV.
HAPPY TRADING :
R.K.
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