Got the upmove as expected . Just not sure how high this might go. Charts below(its beautiful isn't it ??)
The RED LINE should provide significant RESISTANCE. that should be touched around 5610 tomorrow.
This looks like a correction to the previous 5 wave - UPMOVE . So we completed A. B is in progress. Then we should be coming back for C. Todays QE3 speech by Bernanke have added fuel . So just not sure how high this might GO. the GAP is very near to todays CLOSE 5585. If we touch 5601 , GAP closed. I added that BLUE line as well. The intersection area of the RED line , BLUE line and the upper PINK channel should have enough fire-power to stop the NIFTY . 50% retracement of the recent DOWNMOVE is at 5618. The same area.We will see tomorrow.