First of all.....my sincere thanx to all my readers......I received huge responses in mail regarding my previous post. I tried to reply them back individually as much as possible......
Now, the theory that I put forward on Sunday held even today.....This is the continuation of the balance structure or one can say the 6th extended wave in motion.....
Observe the following chart :
From the point 5, Nifty Futures should continue its upmove till it faces the major resistance zones of 3090 (the 1st overhead red line showing resitance of the same wave) and 3170 (the next red line showing resistance of the previous wave) .....If 3100 is crossed, it not only crosses a resistance but breaks out of symmetric triangles (see fig), thus making the 6th extended wave a very strong one......If these 2 resistances are successfully crossed, then I dont see any techncial reason as to why 3550 cannot be achieved.....
So lets all enjoy and ride the progressive wave......
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